Simon Ward wrote: > > productive capital is drained away and > whatever capital is left is slowly but steadily transferred to unproductive > conditions - ever more luxurious housing for example or golf courses.
This is wrong; these are luxury commodities and the production of them generates surplus value just as does the production of boots or tennis balls or or shirts. See Capital, Vol. II, Chap. XX, Section IV. Exchange Within Department II. Necessities of Life and Articles of Luxury. Carrol
