On Dec 27, 2011, at 8:27 PM, Jonathan Nitzan wrote: > Early in 2011, we received a surprising invitation from the Financial > Times Lexicon. A reader had suggested that an entry on differential > accumulation be added to the Lexicon, and the online content developer > asked us if we would be willing to write it. Our first thought was > that > this must have been a mistake. . . .
In their article they say that the real capital stock is "impossible to evaluate." For all their bombast, it seems they have no understanding of Marx. Have they ever heard of the "labor theory of value?" For Marx, capital is accumulated surplus-value. For Marx, surplus-value is a quantity of labor time. For Marx, capital is to be evaluated as a quantity of labor time. Simple and precise. But for them, capital is just the dollar value at which speculators evaluate the fictitious capital represented by marketed stocks and bonds. And they pass this off as some sort of "Marxism!" Shane Mage "All things are an equal exchange for fire and fire for all things, as goods are for gold and gold for goods." Herakleitos of Ephesos, fr, 90 _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
