WL>>Seems to me you do in fact get the distinction between productive capital
and speculative capital. A good Ponzi scheme is not back until it collapses.
Profits to be made from that side of the business constituting productive
capital has never been bad business. <<

I never said I didn't get such a distinction (although why do I not
like that term 'productive' capital? Will get back to you about that.)
For the purposes of analysis Marx, Lenin, Veblen and Keynes all make
such a distinction. I don't think any would deny how they overlap in
the 'magic of profit-taking' of capitalism.

Industrial capitalists like what the UK, US had in the 19th century
might not exist today (afterall, they were people in the 19th
century), but we can still use the term 'industrial capital'.

I just refuse to go over the ontological or exegetical deepends (as so
many Marxists are wont to do).

But I do detect a thesis in your posts WL.  I just don't know that it
means anyone else is wrong about the current crisis of capital.


Marxism-Thaxis mailing list
To change your options or unsubscribe go to:

Reply via email to