raghu: "...surely hoarding *money*, specifically hoarding money by "investing", growing and accumulating it in perpetuity (as Jack MacDonald did) has to be the very definition of capitalist activity, no?"
No. Surely *making* money, whether through investment in useful production, or sitting on a hoard and letting compound interest do its thing, or gambling on "any manner of insane forms" are all essential capitalist activities. The form of money-making taken depends on the choices of capitalists, doing their often information-poor calculations under varying historical conditions. On Tue, Dec 31, 2013 at 9:49 AM, raghu <[email protected]> wrote: > On Tue, Dec 31, 2013 at 1:15 PM, Carrol Cox <[email protected]> wrote: > >> Hoarding is a non-capitalist use of wealth. >> > > > I have to say I am very surprised and confused by this. > > Hoarding commodities such as, say, antique stamps may be non-capitalist. > But surely hoarding *money*, specifically hoarding money by "investing", > growing and accumulating it in perpetuity (as Jack MacDonald did) has to be > the very definition of capitalist activity, no? > > -raghu. > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > >
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