Hi Paul C:
Your corrections and qualifications are duly noted. However, I think that
the distinction you are trying to make between industrial capitalist and
'the rentier fraction of the bourgeoisie' is largely outdated in the period
of late capitalism where conglomerate mergers and diversification have
resulted in the same capitalists investing in any activity where the expected
rate of return on investment (RRI) is highest regardless of the particular
nature of the sector in which the money is being invested in. Soros's
money was not only used for currency speculation; it was also used to
buy shares in non-financial firms and thus was used, in part, to finance
industrial sectors. I don't think that there are a whole lot of purely
industrial capitalists left: it is too risky - all capitalists have come to
realize that they must diversify their holdings and thereby spread their
risk.
In solidarity, Jerry
_______________________________________________
ope mailing list
ope@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/ope
Received on Mon Jan 26 08:27:48 2009
This archive was generated by hypermail 2.1.8 : Sat Jan 31 2009 - 00:00:03 EST