CharlesB at SPAMCNCL.ci.detroit.mi.us
Tue Mar 20 07:38:49 MST 2001
>>> snedeker at concentric.net 03/18/01 12:52PM >>>
> >What's the difference between Wallstreet and a casino ?C.B.
this is argument through metaphor, or is it "analogy"? one might say that
investing in the stock market is the moral equal of investing in the 18
century slave trade.
I still think we need some insight into the relationship between production
of value and this form of gambling. who is dealing the hand? G.S.
CB: There is very little production of value on stockmarkets. It mostly involves
dividing and redividing up the surplus value extracted from workers in production.
The capitalist system requires the ability to move capital from one sector to another
so as to make the highest rate of profit at any one time. My guess is that the
stockmarket is a mechanism by which the capitalists accomplish this in part. They can
move their money around to the companies making the best rate on their investment.
What do you think ?
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