[lbo-talk] The State and Capitalism

Charles Brown charlesb at cncl.ci.detroit.mi.us
Mon Mar 17 10:52:58 PDT 2008



>>> Mike Ballard

************

Money becomes capital when it is used to buy wage-labour to make commodities for sale. This is how too few people have most of the representations of wealth i.e. money and how money becomes the social relationship known as Capital. Alternative currencies could become Capital too, depends on the social relation between an employing class with their employees....iow, workers having to sell their labour time and skills to the employing class in order to make wages for a living in exchange for giving over ownership and control of their product to their employers.

Mike B)

^^^^^ CB: On the functions of money that are not carried over to the to each according to work, first phase of communism, a primary function not carried over to that first phase is the M-C-M1 money of the capital accumulation process.



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