From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Thu Sep 07 2006 - 05:37:08 EDT
But anyway, clearly the stock of physical production capital owned by capitalists is only the minor subset of the total capital stock (the total capital stock obviously includes also liquid deposits, obligations and the like, i.e. financial assets, money capital). One of the central economic problems of our time is precisely that of how policymakers could cajole capital into productive, job-creating investments, which is basically a problem of how, after frenetic deregulation, you shift capital from the sphere of circulation back into the sphere of production, and which obviously implies that capital can also accumulate external to the sphere of production, i.e. a distinct circuit of claims on property income. Thus, a focus exclusively on the composition of production capital provides at best only half of the story of economic reproduction. Jurriaan ------------------------ One must surely distinguish between financial claims and real capital stocks. The former are information, the latter are values.
This archive was generated by hypermail 2.1.5 : Sat Sep 30 2006 - 00:00:06 EDT