123hop at comcast.net wrote:
>
> "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."
>
> I found the paper interesting in regard to what the "free market" was supposed to be free of, and in regard to the overallocation of resources to finance capital.
>
> I understand your point about valorizing industry over finance, but the fact remains that we can't eat money and that while finance capital appears to be able to grow forever, indulging in that illusion is extremely destructive to the economy as a whole.
Oh come on Joanna. Unless we are subsdistence farmers money is the only thing we c an eat. No money. No food.
And the industrial capitalists are the same people as the financial capitalists. The distinction is almost obscene.
Carrol
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> So, I get it about the point being the accumulation of money, but surely that's a means to an end: political control, the purchase of manufactured products, etc.
>
> Joanna
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