[Marxism] How Does Finance Capital Work?
M. Junaid Alam
mjunaidalam at msalam.net
Fri Dec 10 12:20:12 MST 2004
Comrades, I am looking to figure out the basic notions and dynamics
behind finance capital as it relates to certain specific concerns. By
which I mean, looking at the theory of commodity fetishism and
alienation and LOTV, these are fundamentally simple to grasp when you
talk about a piece of yarn or a factory worker producing toys - in fact
I thought about commodity fetishism, ie. price as the great masking of
social history and relations, as such before I even read Marx. But I
have no idea, then, how it is possible that billions and billions of
dollars are made by speculating on money. How does money make money? How
can you assign the percentage of the interest made and how does anyone
know what to speculate on and what not to speculate on? How is it
tangible? Is it factored into GDP? Is it true that something like 90% of
all money is from finance capital, not production of material goods?
As you can see I have no grasp of the issue. Thanks in advance.
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