Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
... capital in the standard technical definition in economics, under "money is a veil", is not the financial capital, not the institutions of property and control and managerial transactions directing those employed under money contracts ... its all the productive equipment.

But clearly since productive equipment pre-dated money and all the other distinctive institutions of capitalism, the capital of capitalism is not the "capital" of the traditional economic model, but rather the financial capital that the traditional economic model rationalizes and legitimizes.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Sat Jun 7th, 2008 at 02:53:20 AM EST
[ Parent ]

Others have rated this comment as follows:

Carrie 4


Occasional Series