----- Original Message ----- From: "paul phillips" <[EMAIL PROTECTED]>
> I wrote a fairly substantial paper on the role of public finance in > primitive accumulation with respect to Canada and the finance of the > First World War. First, Marx is quite explicit on the role of war > finance in spurring primitive accumulation via debt finance and > subsequent non-progressive taxation. For example, in Canada the war was > financed by printing money causing rapid inflation and profit inflation > which profits were used to buy government bonds which paid handsome > interest financed by indirect (sales) taxation. Thus, a transfer from > the general public to the wealth holders which served to consolidate > monopoly capitalism. My paper documented and quantified the process. > > Unfortunately, the journals I submitted the article to turned it down, > largely from the readers comments, because they did not understand (or > accept) the concept of 'primitive accumulation'. Ah well. > > Paul Phillips, > Economics, > University of Manitoba ========================= Did KM ever study Alexander Hamilton? Ian
