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Saturday, September 23, 2017
Michael Roberts — Capital.150 part two: the economic reason for madness
Critique of David Harvey's reading of Das Kapital.
Since money is totipotent (having the capacity to obtain a wide variety of goods and services many necessary for survival), to steal a term from biology, it is part of Nature that especially those dysfunctionally raised to have an antisocial (as opposed to a prosocial one) mindset will seek to gain easy and even fraudulent "rent" from this "totipotent facility" wherever they can achieve it. The creation of money and financial instruments was a logical next step for easy "rent seeking" and especially so where surplus value from goods and services industries production seeks a home to maintain monetary value and even increase that value.
Since money is totipotent (having the capacity to obtain a wide variety of goods and services many necessary for survival), to steal a term from biology, it is part of Nature that especially those dysfunctionally raised to have an antisocial (as opposed to a prosocial one) mindset will seek to gain easy and even fraudulent "rent" from this "totipotent facility" wherever they can achieve it. The creation of money and financial instruments was a logical next step for easy "rent seeking" and especially so where surplus value from goods and services industries production seeks a home to maintain monetary value and even increase that value.
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