[Marxism] Two corrections

steve heeren tzsche at shaw.ca
Sat Dec 11 13:16:15 MST 2004

Congratulations, Jurriaan! You are a standing refutation of that old 
American quip: "you can alway tell a Dutchman, but you can't tell him 
very much." This probably applies to us Germans, too!

steve heeren

Jurriaan Bendien wrote:

> 1. I wrote previously:
> ''As you can see, the value of the assets owned by the world's commercial
> banks is estimated to be larger than the total mass of the world's total
> share-capital."
> This is not quite correct, since the statistic only refers to the 
> share capital of publicly listed companies - not all companies which 
> issue shares of various kinds are necessarily listed on the 
> stockmarket, and those companies listed may also utilise other types 
> of equities which are not listed. Therefore, the total equity capital 
> is really larger that total stock market capitalisation, although the 
> latter would be the bulk of it.
> 2. Also, Louis brought to my attention that the English East India 
> Company was actually officially founded in 1600 challenging the Dutch 
> traders and Portuguese Estado da India, whereas the United Dutch East 
> India Company was founded in 1602. Thus, the EEIC was in fact 
> officially started slightly earlier than the UDEIC (which merged 8 
> proto-companies that in 1595-1602 had sent 65 ships to Asia). The 
> Danish East India Company was started in 1616, the French East India 
> Company was founded in 1664 (after a failed 1611 attempt), and the 
> Swedish one in 1731.
> However, the UDEIC nevertheless does technically appear to have been 
> the first joint-stock company (cf. http://www.oldest-share.com/ ).
> For Marx's comments on the EEIC see: 
> http://www.marxists.org/archive/marx/works/1853/07/11.htm
> More references at: http://www.uc.pt/bd.apm/bd.htm
> Jurriaan
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The weight of this sad time we must obey.
Speak what you feel, not what you ought to say.
                        Shakespeare (King Lear)

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