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. |
From inside the book
Results 1-3 of 22
Page 65
... currency , T1 , is converted to foreign currency , T2 , at the foreign exchange ( either locally or in the foreign country ) ; foreign currency is exchanged for commodities , C , in the foreign country ; the commodities are imported and ...
... currency , T1 , is converted to foreign currency , T2 , at the foreign exchange ( either locally or in the foreign country ) ; foreign currency is exchanged for commodities , C , in the foreign country ; the commodities are imported and ...
Page 66
... currency , T2 , would be the equivalent of an enhanced local currency , T1 ' , which would become M ' . All of these metamorphoses have already been discussed in respect of the domestic circulation of convertible paper currency , above ...
... currency , T2 , would be the equivalent of an enhanced local currency , T1 ' , which would become M ' . All of these metamorphoses have already been discussed in respect of the domestic circulation of convertible paper currency , above ...
Page 71
... currency . Where gold does , however , directly circulate , it must represent its own value . This it does ( i ) between the boundaries of the circulation areas of the various national currencies , and ( ii ) at its point of entry into ...
... currency . Where gold does , however , directly circulate , it must represent its own value . This it does ( i ) between the boundaries of the circulation areas of the various national currencies , and ( ii ) at its point of entry into ...
Contents
Towards a theory of gold 1 Gold as money | 1 |
The moneycommodity and the value of labourpower | 49 |
Gold as capital | 77 |
Copyright | |
15 other sections not shown
Other editions - View all
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