[Marxism] The Republicans and the gold standard
d.koechlin at wanadoo.fr
Wed Aug 29 20:51:25 MDT 2012
In my previous post, I wrote that those who "have Capital" chose to
invest in Gold when they fall on hard times. Actually, I think it is
only the petty bourgeoisie who are buying gold at the moment. The "haute
bourgeoisie" do not share such notions and are trying to spread their
investments in order to concentrate and increase the degree of
exploitation of the productive forces of the world.
Talk of gold, of "pegging", of an universal, stable, standard is a
logical, but outdated, effort to escape the gravitational pull of global
Capitalism since the time of Proudhon.
Trying to curtail the laws of motion of Capitalism has always been a
pre-occupation of the petty bourgeoisie in times of crisis. Trying to
bridge the gap between exchange-value and use-value through a universal
standard, and hoping that it will influence the rate of
surplus-extraction is not a new idea. But use-value is not exchange
value, it is only the carrier of exchange-value and cannot become
synonymous with exchange-value thanks to any external property, at least
within our present Capitalist mode of production. Use-value is
use-value, exchange-value is exchange-value, and Capitalists can only
use one use-value to accumulate Capital : Labour.
Labour, and the control of the labour force, is the only commodity that
produces more value. No other commodity has that property.
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