[OPE-L:1707] [Chai-on on] Gold, credit-money and fictitious capital

glevy@acnet.pratt.edu (glevy@acnet.pratt.edu)
Fri, 5 Apr 1996 05:20:45 -0800

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---------- Forwarded message ----------
Date: Fri, 5 Apr 96 20:55:50 KST
From: chaion lee <conlee@chonnam.chonnam.ac.kr>
To: ope-l@anthrax.ecst.csuchico.edu
Subject: Re: [OPE-L:1688] Re: Gold, credit-money and fictitious capital

Maria[1688] says,

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".

Chai-on asks,

Then, can I understand that the criterior for the distinction between real
capital and fictitious capital consists in the origin of the gains; whether
it is from the its own production process or from other production process.
?? Are the banking capital, the loanable capital, etc. also the fictitious
capital? But one thing is omitted. capital gain is to be distinguished
from the profit it earns. The gain is also the result of the articulation
of production and circulation. After the re-evaluation of capital, its
value is increased irrespectively of its embodied labor-value.
I wait for your confirmation.

In solidarity,