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critique of loon theories around banking/money creation/the federal reserve

I don't think it has passed through that stage. Because for one thing, you cannot look at western capitalism in isolation from the rest of the world, western multinationals operate in the third world, iphones and the like are made by chinese workers for western corporations.
Besides there's still plenty of wage-slavery in the West. As usual phil is full of philshit.
 
I’m afraid you are completely and utterly wrong there phildwer. Re-read your sources. (Though let me make my position clear. I think "Dialectical Materialism" is a complete load of bollocks - imported into Marxism by Engels as a direct steal from Hegel . Marx never referred to it , EVER, It is Not the same concept at all as his perfectly straightforward “Historical Materialism”). All the Stalinist "philosophers" loved Dialectical Materialism - just the sort of mumbo jumbo that could be used to justify every policy shift and "contradiction" !

Yes, I know they loved it. My point is that they were wrong to do so, for it is an idealist Hegelian, rather than a materialist Marxist, point of logic.
 
I love the pure marx and the robot engels above. Of course, marx in his many millions of words often explicitly endorsed the same mechanical nonsense as Engels - that stuff cannot just be cut off/out, it needs to be dealt with - and not on the basis of the above pure marx and the robot engels .
 
Anyway, the point I was making, which I think you agree with, is that in contemporary advanced monopoly capitalism the financial sector has become so large and politically powerful that it is now "non-functional" from the point of the wider capitalist system - its "super rent deriving" parasitic feature, has always been present, previously kept in check through political/legal imposed limits, is now actually seriously retarding the future stability and growth of the entire system, stripping out value from the productive, real value producing, capitalist sectors to feed its limitless short termist , indeed completely irrational, greed. The well documented "hollowing out" and "financialisation" of the US economy over the last 30 years for instance has been quite astonishing. As it has in the UK. The Financial sector of capitalism is now very akin to a cancerous growth within capitalism itself.

Ah finally we get something - you are an adherent of the monopoly school then - despite this school rejecting marx and the law of value? Then arguing that the key is the operation of the law of value.
 
Jazz has his anti Semitic arse handed to him on a plate, then up pops phildwyer with his 'just because it has been a central feature of anti Jewish slurs and pogromist propaganda for centuries, doesn't mean MY anti usery loonspuddery is antisemitic'.
You can dress it in a green shirt rather than a black one but its still stinks.
 
Anyway, the point I was making, which I think you agree with, is that in contemporary advanced monopoly capitalism the financial sector has become so large and politically powerful that it is now "non-functional" from the point of the wider capitalist system - its "super rent deriving" parasitic feature, has always been present, previously kept in check through political/legal imposed limits, is now actually seriously retarding the future stability and growth of the entire system, stripping out value from the productive, real value producing, capitalist sectors to feed its limitless short termist , indeed completely irrational, greed. The well documented "hollowing out" and "financialisation" of the US economy over the last 30 years for instance has been quite astonishing. As it has in the UK. The Financial sector of capitalism is now very akin to a cancerous growth within capitalism itself.

Aye. Aufhebung innit. Under such circumstances, only the benighted or the self-interested could continue to adhere to a traditional materialist analysis, as we've clearly seen on this thread.
 
Jazz has his anti Semitic arse handed to him on a plate, then up pops phildwyer with his 'just because it has been a central feature of anti Jewish slurs and pogromist propaganda for centuries, doesn't mean MY anti usery loonspuddery is antisemitic'.
You can dress it in a green shirt rather than a black one but its still stinks.

No. What stinks is your attempt, and those of your ilk, to link anti-semitism to anti-capitalism. That's what's really dangerous.
 
No it doesn't, you're quoting Wikipedia, get a grip.

The merriam webster dictionary says I'm right as well:

usury
archaic : interest
2
: the lending of money with an interest charge for its use; especially : the lending of money at exorbitant interest rates
3
: an unconscionable or exorbitant rate or amount of interest; specifically : interest in excess of a legal rate charged to a borrower for the use of money
 
The merriam webster dictionary says I'm right as well:

usury
archaic : interest
2
: the lending of money with an interest charge for its use; especially : the lending of money at exorbitant interest rates
3
: an unconscionable or exorbitant rate or amount of interest; specifically : interest in excess of a legal rate charged to a borrower for the use of money

No it doesn't, it says you're wrong. (I take it you accidently erased a 1 there).

So Mr. Webster says it's 'archaic' does he? Now, why would he say that I wonder? I bet he's dashed glad it's 'archaic' too.

It's not archaic, I'm using it now. And number 2 says you're wrong too.
 
No. What stinks is your attempt, and those of your ilk, to link anti-semitism to anti-capitalism. That's what's really dangerous.

I know your trolling but for fucks sake, anti-semitism is not linked to anti-capitalism, it has nothing to do with it, it doesn't even have anything to do with opposition to loan sharking/usury, the modern day "usurers" are not from any particular ethnic group and are officially at least (if not in practice) disapproved of, their activities are semi legal and have nowhere near the importance to the economy and creating value etc as for example the Ford Corporation does. They are as different as night and day. Henry Ford was an industrial capitalist and so were many of his other followers, anti-semitism is used to divert attention from a rational critique of capitalism.
 
No. What stinks is your attempt, and those of your ilk, to link anti-semitism to anti-capitalism. That's what's really dangerous.

Bollocks. It's not linked to anti-capitalism, it's linked to a paranoid theory about ONE PART of capitalism, missing out all the other aspects to it, missing out wage-labour and the theory of surplus value, making out that everything would be fine if it wasn't for the banks and ignoring the capitalist system itself, which is the exploitation of the workers for surplus value.
 
I know that. You know that. Delbert? He don't know nothing.

Others will tell him though.

I am a marxist, that means I criticise all of capitalism, not just one part, and when I criticise the banking system I do it in a rational way and not a paranoid way which goes on about fraud and going back to the gold standard.
 
In the West it has ceased to be the primary generator of capital, has it not?

Not really, the west still consumes and imports huge amounts of industrially manufactured commodities, which underpins capitalism generally. This service sector, post-industrial economy we have in the UK is a niche within a globalised economy, only possible because "western" capital can use China as an export platform and then sell those commodities nack to the British/western markets that otherwise would be manufactured domestically. In the West or Britain, perhaps other sectors of the economy "generate more capital", the City probably does outweigh industry in GDP, but that industrial capacity in China does generate a huge amount of capital for what are nominally "western" multi-national enterprises, even though they aren't geographically in the West. It's not a "post-industrial" society because it's dependent upon an industrial base elsewhere in the world, and it's incredibly eurocentric to just pretend it doesn't exist and we've got beyond industrial capitalism because of de-industrialisation in parts of your own back yard. Even the likes of Daniel Bell didn't try making this argument you're making.

We haven't gone beyond industrial wage-slavery, we've just outsourced production to another part of the world, and heavily automated the bits of the industrial manufacturing economy that remain. Productivity for example in Germany, industrially, has gone up steadily all throughout the 80's and 90's, so the de-industrialisation arguments there focus not on the ability of German industry to make money, but the fact they've managed to increase productivity whilst steadily reducing the numbers of workers required to achieve it. Furthermore, big "German" companies use a supply chain that relies on outsourcing to parts of the third world, to take advantage of cheap labour, which again generates capital for the "West" although wage-slavery and the surplus value and all that horrible stuff takes place out of sight, out of mind, in the global south.

This means that the way in which "de-indutrialisation" is spoken of in that particular chunk of the 1st world refers to the proportion of people employed in industrial manufacturing jobs, and the growth of service sector as a proportion of the workforce, rather than the decline of overall industrial production. It's different in Britain, because we don't retain a large industrial manufacturing capacity like the Germans (although the end of british industry is often routinely overstated in arguments -we still manufacture a lot here on the sly) and the state decided in the 80's to replace that with a massive financial sector called the City of London and a low-productivity, low-wage, tertiary economy attached to it.

Give us a break Delbert. You've had your fun, now please to go away Sir.

I'll let you know when i've finsihed having my fun. I'm snowed in so I'm going nowhere today
 
No it doesn't, it says you're wrong. (I take it you accidently erased a 1 there).

So Mr. Webster says it's 'archaic' does he? Now, why would he say that I wonder? I bet he's dashed glad it's 'archaic' too.

It's not archaic, I'm using it now. And number 2 says you're wrong too.

"especially" meaning "usually"

the definition of the word gay is still technically "happy" (and until recently that was the first definition listed in the dictionary) but hardly anyone uses it to mean happy do they?
 
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