I think we've been through this like 25 times before, ^^^ CB; Whose "we" ? ^^^^ but here it is in a nutshell: the essence of monetary crankery is the argument that the problems of capitalism - like polarization and instability - are the result of problems in the monetary and financial sphere itself. It lacks any understanding that money itself in a capitalist is a social relation that depends on the rest: the unequal ownership of property, the capital-labor relation, the monopoly of investment decisions by the capitalist class, etc. It's perfectly suited to the needs of the petit bourgeoisie, which likes private ownership but hates and/or envies the bigger capitalists who outcompete them, and the financiers who lend them money. But they want to borrow money so they can exploit their workers more effectively; they have not problem with that part of the capitalist scheme. For more, read the chapter on money in the Grundrisse. Doug ^^^^^^ CB; What is Marx's position on the practical struggle in relation to the financial sector ? What is to be done ? Hard to believe that Marx thought that the financial sphere itself does nothing to cause polarization and instability in capitalism; or that the working class struggle against capitalism only takes the form of disassembling industrial capitalist/wage labor relations, but not disassembling finance capital/wage-labor relations. Surely he didn't think that the working class overthrows industrial/manufacturing/merchant capital, but leaves finance capital in place for socialism. Ah yes, the petit bourgeoisie,the real culprits behind capitalism's persistence.
