[Marxism] Another review of Heinrich

Shane Mage shmage at pipeline.com
Tue May 28 20:53:16 MDT 2013


On May 28, 2013, at 10:18 PM, MAK wrote:
> ... He attempts (in my view convincingly) to demonstrate that the
> financialization has not increased or sustained the rate of profit...

> I would go further.  Financialization incentivizes corporate  
> managers to maximize quarterly accounting returns, necessarily at  
> the expense of long-term profitability. It also provides a highly  
> criminogenic environment, again at the expense of real  
> profitability. But the  main pernicious effect is to divert surplus- 
> value from profit-of-enterprise, the criterion for productive  
> investment, to the parasitism of executive compensation and  
> interest. Its effect on the rate of profit can never be positive.


Shane Mage

"All things are an equal exchange for fire and fire for all things,
as goods are for gold and gold for goods."

Herakleitos of Ephesos, fr, 90




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