[lbo-talk] Michael Hudson - 'From Marx to Goldman Sachs: The Fictions of Fictitious Capital'

c b cb31450 at gmail.com
Mon Aug 9 10:49:09 PDT 2010


socialismorbarbarism :

Finance capital is totally integrated into, and is an integral part of, the capitalist mode of production. One can no more transcend finance capital than one can transcend industrial capital—and if it happens, the result is some form of not-capitalism. I wish.

Hudson shows how bad theory can lead to disastrous political prescriptions.

^^^^^^ CB: What about a form of divide and conquer tactic ? Divide industrial and finance capital , and fight them separately at a time.

On the metaphor of finance capital as parasite, if finance were a tick on a dog it would be a giant tick as large or larger than the dog in size; with size corresponding to concentration of wealth. Or if the finance "parasite" were a virus, it would be a virus bigger than the animal host in size. Viruses are sort of a fictitious life-form.



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