[OPE-L:1688] Re: Gold, credit-money and fictitious capital

ma. lourdes r. moll (mlmollo@guarany.cpd.unb.br)
Thu, 4 Apr 1996 05:33:54 -0800

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Chai-on Lee wrote in [OPE-L 1656]

> Dear maria,
> Then, the capital gains or the capital losses are only about the fictitious
capital rather than about a part of real capitals? I wait for your confirmation
> on this.
> With regards
> Chai-on Lee

No, I don't think that the gains or the losses of capital are related only
to fictious capital. If you understand real capital as machinery or money
that permits or is the requisit to acquire the labour force as a
commodity, you can conceive a gain (profit), at the end of the productive
process, that is proceeding directly from surplus value. The gain that is
related specifically to fictious capital is derived from the circulation,
as a part of income that was generated in an other productive process. It
is in this sense that I think that Brunhoff says that fictious capital
"is at the centre of major economic problems: the relation of circulation
and production, banks and enterprises, an fundamentally the distribution
of income". I think this answers also the question of Jerry [OPE-L 1639].>

With regards