[A-List] accumulation/financialisation - a query
cbrown at michiganlegal.org
Fri Jan 20 07:09:47 MST 2006
From: Michael Hudson
Surplus value, as defined by Marx, derives from paying labor less than
the employer charges for its products. Profit is the "markup" that employers
Financial manipulation has nothing to do with employment or profit. It
makes money purely from money. Marx discussed this in Vol. III. It is as
much pre-capitalist as post-industrial.
How would a shift to "financialization" or financial manipulation as the
source of wealth impact organizing people to overthrow capitalism ? Prior
theories of party organization focused on wage-laborers in production. Does
financialization impact this focus ?
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