Re: [OPE] "lies, damned lies, and underconsumptionist statistics"

From: Jurriaan Bendien <>
Date: Sat Sep 25 2010 - 12:58:20 EDT


I do not have a "physicalist" theory of property or a "physicalist" theory
of capital. I consider such theories as mechanical materialism. I don't
propose to reduce social reality to social accounting.

The residential property and the mortgage contract can be traded
independently of each other, and yield income independently of each other.
The McKinsey financial asset estimates include only stocks, debt securities
and bank deposits.

As I noted before, Marx distinguishes between "real" capital and money
capital, and within money capital, between real money and fictitious

But just because money capital exists only as money, as a financial claim,
it doesn't mean that it does not exist.

To make any progress, you have to overthrow the intellectual traditions of
English Trotskyism, French Althusserianism, German Frankfurterism, American
Harveyism and Japanese Unoism and provide a better alternative. The
traditions of the dead generations weigh like nightmares upon the living.


----- Original Message -----
From: "Paul Cockshott" <>
To: "Jurriaan Bendien" <>; "Outline on Political Econo
my mailing list" <>
Sent: Saturday, September 25, 2010 12:50 PM
Subject: RE: [OPE] "lies, damned lies, and underconsumptionist statistics"

You have to bw vey carefully to avoid double counting with financial assets.
If you include both residential property and mortgage loans then that would
surely be double counting.

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Received on Sat Sep 25 13:03:11 2010

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