Fictitious forms of capital? (fwd)

[James Devine]

At 11:50 AM 8/20/98 -0400, you wrote:
>> And what is fictitious capital?
>> best, rakesh 
>
>apologies if above was answered, I don't recall seeing any responses...
>
>Marx's notion is derived from loaned-money capital...see chapter
>XXV of Capital Vol. 3...Michael Hoover

as I understand fictitious capital, it refers to any asset that has value
simply due to expectations of future returns. Some fic. cap. is backed by
"real" capital, i.e., capital that has a return because it is involved in
exploitation of labor. But not all.

Jim Devine jdevine at popmail.lmu.edu &
http://clawww.lmu.edu/Departments/ECON/jdevine.html