Re: [OPE-L] Capital reproduction theories and the facts

From: Paul Cockshott (wpc@DCS.GLA.AC.UK)
Date: Thu Sep 07 2006 - 05:37:08 EDT


But
anyway, clearly the stock of physical production capital owned by
capitalists is only the minor subset of the total capital stock (the
total
capital stock obviously includes also liquid deposits, obligations and
the
like, i.e. financial assets, money capital).

One of the central economic problems of our time is precisely that of
how
policymakers could cajole capital into productive, job-creating
investments,
which is basically a problem of how, after frenetic deregulation, you
shift
capital from the sphere of circulation back into the sphere of
production,
and which obviously implies that capital can also accumulate external to
the
sphere of production, i.e. a distinct circuit of claims on property
income.
Thus, a focus exclusively on the composition of production
capital provides at best only half of the story of economic
reproduction.
Jurriaan  

------------------------


One must surely distinguish between financial claims and real capital
stocks.
The former are information, the latter are values.


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