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 65
... bank . If ΠΌ has proved successful as capital , then the imported commodities would sell at local currency T ' , which would become M ' . In the case of ( ii ) : Money ( gold ) , M , is converted to local currency , T1 at the central bank ...
... bank . If ΠΌ has proved successful as capital , then the imported commodities would sell at local currency T ' , which would become M ' . In the case of ( ii ) : Money ( gold ) , M , is converted to local currency , T1 at the central bank ...
Page 97
... bank enters into a fixed relation with the borrower of capital and expects a fixed share of the surplus - value for its advance . As soon as the bank's capital and its share of the surplus - value have been handed over , the relation ...
... bank enters into a fixed relation with the borrower of capital and expects a fixed share of the surplus - value for its advance . As soon as the bank's capital and its share of the surplus - value have been handed over , the relation ...
Page 166
... payable on bank loans , constitute the cost of capital to the company . The more it can draw on internal sources of capital , the less would be its total capital cost . The Group system of share - ownership has done much 166.
... payable on bank loans , constitute the cost of capital to the company . The more it can draw on internal sources of capital , the less would be its total capital cost . The Group system of share - ownership has done much 166.
Contents
Towards a theory of gold 1 Gold as money | 1 |
The moneycommodity and the value of labourpower | 49 |
Gold as capital | 77 |
Copyright | |
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Common terms and phrases
abstract labour amalgamation amount average becomes black workers capitalist Chamber of Mines character circuit of capital commodity competition concrete labour consumption contradiction cost diamond Duncan Innes emph exchange value expression factors of production financial markets fixed price gold as money gold mines gold production goldmining capital goldmining industry hence human labour ibid increase individual Innes Johannesburg Johnstone joint stock capital labour force lode London Marx Marx's means of production measure of value metals miners money-commodity monopoly native nature necessary labour-time nineteenth century Onselen paper currency particular use-value placer mining political economy productivity of labour proletarianisation quantity of gold Rand reduced relation remains role shafts silver slavery social capital social form South African goldmining standard of price superexploitation surplus surplus labour surplus-value thesis Ticktin Trewhela unit value of gold value of labour-power values of commodities wages wealth Williams Witwatersrand workforce