Fictitious forms of capital? (fwd)

[Patrick Bond]

In my neck of the woods (marxian geography) we've used the term to 
mean a paper representation of capital, thus including real estate 
titles and the like. Thus they don't necessarily have to generate an 
income stream or appreciate in value -- lots of properties in Jo'burg 
certainly aren't doing either.


> Date:          Thu, 20 Aug 1998 12:10:50 -0400
> To:            lbo-talk at lists.panix.com
> From:          Doug Henwood <dhenwood at panix.com>
> Subject:       Re: Fictitious forms of capital? (fwd)
> Reply-to:      lbo-talk at lists.panix.com


> hoov 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
> 
> I can't believe Rakesh doesn't know the answer to this, so I'm wondering
> what he's really after. But fictitious capital is any capitalized future
> income stream (as opposed to "real" capital, which earns a profit through
> the sale of commodities). A bond is a series of interest payments treated
> as a sum of capital; a stock is a series of dividend payments (or their
> underlying corporate profits) so capitalized.
> 
> Doug
> 
> 
> 
>