Browsing archived posts:
Fictitious Capital and Contracted Social Reproduction Today; China and Permanent Revolution

Once again, capital requires, in order to survive as capital, a vast devalorization of all existing values, however great the destruction of human beings and means of production which that entails.

 
Media: Loren Goldner, Oakland, September 2010

Writer and activist Loren Goldner contextualizes the current economic crisis and class struggles in a theory of capitalist development.

 
The Historical Moment That Produced Us: Global Revolution or Recomposition of Capital?

Our task must be to articulate the full implications of that positive power which lies beyond the disorientation of today. We must show where that potential surfaces in micro-ways in the struggles of the present.

 
Global Leveraged Buyout or the “Longest Boom in Capitalist History”?: A Reply to Robert Fitch

Fitch’s “In Defense of Washington and Wall Street”, while making some good points about the unraveling of the world financial system, is seriously flawed.

 
The Biggest ‘October Surprise’ Of All: A World Capitalist Crash

Comrades, history has offered us an opening which, if we fail, will not come again in our lifetimes.

 
Media: Fictitious Capital and Today’s Global Crisis

A talk with Loren Goldner on the current capitalist crisis.

 
Media: KPFA’s “Guns and Butter”, 2007: Interview on “fictitious capital”

“Interview with independent writer and activist, Loren Goldner.

 
Fictitious Capital for Beginners: Imperialism, “Anti-Imperialism”, and the Continuing Relevance of Rosa Luxemburg

Far from being a remote “economic” concept, fictitious capital leads us straight to the central political questions of today, and above all those questions confronting the international left.

 
1973 Redux?: Continuity and Discontinuity in the Decline of Dollar-Centered World Accumulation

The world is still in the early phase of an inflationary blow-out centered on the indebted “U.S. consumer” as the “locomotive” of the world economy.

 
Fictitious Capital and the Transition Out of Capitalism

The following is a “thought experiment” which attempts to see fictitious capital in relation to the end of capitalism.

 
The “Dollar” Crisis, and Us

Incredible as it may sound, ever since the late 1950’s, the world economy has been tossing around a “hot potato” of an ever-increasing mass of “nomad dollars” (dollars held outside the U.S.) whose actual conversion into tangible wealth would plunge the world into a deflationary crash.

Pause In The Crisis or Beginning of a New Boom?

The fundamental problem for U.S. capitalism is to globally circulate the mass of fictitious capital that has built up over 45 years of subsidized dollar hegemony, making possible that capital’s valorization by extracting an adequate amount of surplus value.

 
Once Again, on Fictitious Capital: Further Reply to Aufheben and Other Critics

Fictitious capital is the gap between total price and total value on a world scale.

Other Comrades’ Comments on the Aufheben Debate

The discussion between Loren Goldner and Aufheben is, in essence, about the role of fictitious capital in the crisis of capitalism but they disagree already about what fictitious capital actually is.

 
Production or Reproduction?: Against a Reductionist Reading of Capital In The Left Milieu, and Elsewhere

There will be expanded social reproduction in communism, focused once again on the “production for production’s sake”, not in the Ricardian sense of capitalist productivism but in the communist sense of creativity.

 
Fictitious Capital, Real Retrogression

It is hardly a secret that the contemporary world is one of tremendous dislocation in which every advance of capital seems to entail, and require, a major retrogression of the human.

 
Production or Reproduction?: Against A Reductionist Reading of Capital

The following is a reply to the Aufheben Critique of Remaking of the American Working Class.

 
“Total Capital” Rigor and International Liquidity: A Reply to Robert Brenner

Without any distinction between productive and unproductive labor, and without a serious look at the social reproduction of labor power, and without an awareness of how the vast inflow of foreign capital into the U.S. stock market skews figures for “American” firms, what can figures on “profits” mean?

 
International Liquidity and Class Struggle: A First Approximation

I am writing this in late October 1998 in what seems to be a pause in the latest phase of the world financial crisis.

 
Fictitious Capital and Crisis Theory: An Introduction

PDF available for download.

 
The Remaking of the American Working Class: The Restructuring of Global Capital and the Recomposition of Class Terrain

Any movement which henceforth wishes to be revolutionary is compelled to talk about production and social reproduction in a way that has never been done, with a few exceptions, since the time of Marx.