The Golden Contradiction: A Marxist Theory of Gold : with Particular Reference to South AfricaThis is a work of political economy which explains how the traditional constancy of gold came to give way to a daily-fluctuating gold price. The fixed gold price is radically re-examined while the reverence of the gold standard system is challenged. The book looks at the gold producing labour, including the Wild West gold digger and the origins of apartheid in South Africa. |
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Page 55
When something increases in value , it means that a greater amount of labour - time has henceforth to be spent on its production than before . It is no different with gold . A rise or fall in the value of gold means that , respectively ...
When something increases in value , it means that a greater amount of labour - time has henceforth to be spent on its production than before . It is no different with gold . A rise or fall in the value of gold means that , respectively ...
Page 61
The amount of value represented by such a token as standard of price is the value of commodities expressed by the unit of gold which that token represents . It thus becomes a surrogate expression of the prices of commodities and as such ...
The amount of value represented by such a token as standard of price is the value of commodities expressed by the unit of gold which that token represents . It thus becomes a surrogate expression of the prices of commodities and as such ...
Page 126
Although overall efficiency can be expressed as x amount of labour - time to produce y amount of gold , to express it simply like this is deceptive . The two components of the production process must be considered separately , since the ...
Although overall efficiency can be expressed as x amount of labour - time to produce y amount of gold , to express it simply like this is deceptive . The two components of the production process must be considered separately , since the ...
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Contents
Gold as money | 27 |
The moneycommodity and the value of labourpower | 49 |
Gold as capital | 77 |
Copyright | |
7 other sections not shown
Common terms and phrases
abstract labour actual allowed already amount appears assume average basis becomes body capital capitalist Chamber character circuit circulation commodity companies competition concrete labour consumption cost currency demand described discussion distinction early economy effect examined exchange value existence expression extraction fact fixed force further given gold production goldmining Group hand hence human ibid important increase individual industry Innes labour-time less living lode Marx material means measure metals mining monopoly native nature necessary nineteenth century object occurs offered operations particular period placer portion position present problem quantity question reduced relation relatively remains represented role serves shares silver simply social society South African specific standard surplus-value unit universal use-value value of gold value of labour-power wage-labour wages wealth Witwatersrand workers workforce
Bibliographic information
| Title | The Golden Contradiction: A Marxist Theory of Gold : with Particular Reference to South Africa Avebury Series in Philosophy Making of modern Africa |
| Author | Farouk Stemmet |
| Edition | illustrated |
| Publisher | Avebury, 1996 |
| ISBN | 1859723535, 9781859723531 |
| Length | 276 pages |
| Export Citation | BiBTeX EndNote RefMan |