Gernot Koehler wrote: > This link ... breaks with the Neanderthal dogma of exploitation as nothing > but a > production-side process.
We shouldn't knock the Neaderthals. Some believe that they were much more peaceful and humane than those of us who are descended from Cro Magnons. In any event, what "dogma" are you talking about? and why is it "dogma"? As I understand the Marxian theory of exploitation, it involves the "3 S's": supremacy, subjection, and submission. "Supremacy" refers to the way in which capitalist society _as a whole_ (and not just "production") is structured so that labor-power is typically abundant and the means of production typically scarce, so that workers have to sell their labor-power to the capitalists in order to survive. In simple terms, the reserve army of labor keeps wages below labor productivity, so that individual capitalists can reap profits simply by owning property. A key part of the "way in which capitalist society ... is structured" is the capitalist control over both the accumulation process and the state. "Subjection" refers to the way in which workers pay the capitalists surplus-labor in order to live their lives in a somewhat decent way. This surplus-labor (which _is_ done in the production sphere) is the basis for surplus-value, including profits, interest, rent, and (perhaps) some taxes. The surplus-labor is not sufficient to allow the realization of surplus-value as revenues, however, since demand for the product must also be enough. "Submission" refers to the willingness of the working class to put up with this exploitation. for a more complete story, see http://myweb.lmu.edu/jdevine/JD-1996-exploitation.pdf. In that article, I present the Marxian theory without using the "Neanderthal" labor theory of value, even though it was quite helpful to Marx in his development of his theory of capitalist exploitation. > Lavitsas states that: > [quote] It has gradually become clear that one of the key features of the > last thirty years is increasing autonomy of finance. . . . > And so the financial system has begun to target the personal income of > private individuals - workers and broader strata of the population - as a > source of profit. Individual capitalists -- including financial capitalists -- can definitely "make a profit" off of loans and the like. There's no doubt about that. But this involves benefiting from a _redistribution_ of (claims on) surplus-value from the productive sectors. It's important to remember the distinction between the macro and micro levels. At the micro level, there are lots of ways to get profits. The Marxian theory, on the other hand, says that the macro-societal conditions (including the balance of class power) limit the total volume of "property income" (surplus-value) available for the profit-takers at any given time. For my take on these issues, see http://myweb.lmu.edu/jdevine/JD-1990-UtilityofValue.pdf > This is a new departure in capitalism.... as Doug says so clearly, this is _not_ anything new. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
