On Aug 2, 2010, at 5:29 PM, Max Sawicky wrote:
> Innocent question directed at nobody in particular, from one not deeply
> versed in Marx. Isn't the fundamental process of using money (in all its
> forms) to make money basic to the instability, inefficiency (waste of
> misdirected real investment), and injustice of the system, so that
> financiers et al as the tribunes of this process become themselves central
> to the whole mess?
Well that's been kind of the point of my critique of the valorization of industry over finance, which I've repeated to the point of exhaustion. The point of the whole system is maximizing M' - it's all about the accumulation of money. The notion that finance is somehow a diversion from production seems badly misplaced.
Doug