If the Gov prints some money and buys your stock or, if you like, your electric generator plant, isn't that a "real resource transfer"? Looks real to me.
>>>>>>>>> . . .
Borrowing from a central bank
doesn't - it's just funny money. People who believe in these schemes
tend to believe "finance" is a kind of malignant growth on the
productive sector, and not something intimately tied to capitalist
production. . . .
>>>>>>
Reformist/populist monetary proposals do not dispute the intimacy of ties between finance and capitalist social relations -- only their susceptibility to modification by the State.
Funny that those enthralled by state power (i.e., C. Cox) deny the existence of fiat money -- the reality of money backed up by special bodies of armed men. This denial seems to reflect mechanistic materialism run amuck.
Of course, underlying this denial is really a refusal to engage politics on the level of reforms, even radical ones.
mbs