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 90
... dividends would tend to cause a redirection of capital ( M ) to those circuits yielding a higher Ma . The controller ... Dividends are not paid and the share price drops , necessitating extraordinary measures , such as financing from ...
... dividends would tend to cause a redirection of capital ( M ) to those circuits yielding a higher Ma . The controller ... Dividends are not paid and the share price drops , necessitating extraordinary measures , such as financing from ...
Page 166
... dividends to outside shareholders . The greater the ratio of public shares to those of directors , etc. , the greater must be the portion of the surplus - value leaving the company . Dividends , together with interest payable on bank ...
... dividends to outside shareholders . The greater the ratio of public shares to those of directors , etc. , the greater must be the portion of the surplus - value leaving the company . Dividends , together with interest payable on bank ...
Page 179
... dividends . Mines which do not pay dividends loose their capital . The pressure is therefore on every mine manager to bring every gramme of gold under his property within payability . For this reason he will pursue every technical ...
... dividends . Mines which do not pay dividends loose their capital . The pressure is therefore on every mine manager to bring every gramme of gold under his property within payability . For this reason he will pursue every technical ...
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