The Metaphysics of Value (was The Geography of Class Struggle)

Scott Marshall Scott at
Fri Jul 14 17:49:10 MDT 1995

>anybody interested in actual analysis? or data?


>ok- we have an empirically testable assertion- that the majority of
>profit and wealth is generated in manufacturing and similar industries.
>Actually, the numbers are about a half, at least in the US: my aged 1993
>statistical US statistical abstract shows for 1989, In billions
>of US $, corporations' sales totaled 10,440, generating net income of 389.
>Manufacturing corporations contributed 3276 of the sales, and 181 of the net

Bernie, what produces the other half? My understanding of finance capital is
that it 'produces' nothing. I can't get my mind around very much of an idea
of real estate and insurance producing any value so I would lump them in
with finance. Mostly these are just 'gambling' ways of transfereing even
more wealth from the working class to the wealthy as far as I can see.

I have never argued that *no* value or surplus value either one can be
extracted from services both private and public. To correct my double
negative, both can be generated by service workers both public and private.

Lastly on a global scale I'll bet the ratio is much higher than 50% in the
manufactoring industry. A Chicago economist (Roberta Lynch) did a study a
few years ago about the where the service sector both private and public
have actually grown and her figures showed that for the most part the growth
'shadowed' growth in manufactoring - a primary example being Silicon
Valley's rapid growth in both kinds of industry.

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