Fictitious Capital

Louis Proyect lnp3 at
Thu Dec 23 09:28:17 MST 1999

Michael Perelman wrote:
>I also did a piece on Fictitious Capital in 1991.
>"The Phenomenology of Constant Capital and Fictitious Capital." Review of
Radical Political
>Economy, Vol. 22, Nos. 2 & 3 (Summer and Fall): pp. 66-91.

This reminds me. I've updated the Marxism website FAQ with 3 new items:

--What are financial crises and panics? (the item that Patrick Bond wrote
and Michael comments on here)
--What is uneven development? (also by Patrick)
--Can there be another "1929"? (answer supplied by PEn-L'er Jim Devine;
actually all I did was include a link to his webpage)

These are the questions I invited PEN-L'ers to answer, by the way:

1. Didn't Marx falsely predict the immiseration of the working class? Why
has this not happened?

2. Can there be another "1929" or has capitalism figured out a way to
prevent such disasters?

3. What is "market socialism"? Is it superior to the way the Soviet Union
was organized economically?

4. Doesn't widespread ownership of equities through retirement plans, etc.
prove that capitalism can be democratic?

5. Is the Marxist claim that capitalism breeds war true or just propaganda?

Questions 1, 3, 4 and 5 still need answers, if anybody is interested here.

Louis Proyect
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