Monday, September 15, 2008

Historical Notes on Fictitious Capital

Here is a follow-up of my suggestion yesterday about the relevance of Marx’s theory of fictitious capital for the present day crisis. It begins with a historical overview of the expression, “fictitious capital,” before it gets into the crisis material. The material comes from a book of mine, Marx’s Crises Theory: Scarcity, Labor, and Finance.

fic1

7 comments:

rosserjb@jmu.edu said...

Very thorough, michael. So, it did come out of the discussions during the South Sea Bubble originally.

rosserjb@jmu.edu said...

Very thorough, michael. So, it did come out of the discussions during the South Sea Bubble originally.

Michael Perelman said...

Not a shocking development.

Anonymous said...

Available in PDF?

Michael Perelman said...

sorry.

Anonymous said...

w/Michael's permission, I can post it as a PDF.

Michael Perelman said...

I would not stop you.