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 89
... capital seeking to carry out the metamorphosis C'- M ' , there are other productive capitals intent on the same ... joint stock basis however , offers one more opportunity , in addition to those of the private company , for a redistribution ...
... capital seeking to carry out the metamorphosis C'- M ' , there are other productive capitals intent on the same ... joint stock basis however , offers one more opportunity , in addition to those of the private company , for a redistribution ...
Page 91
... joint stock capital may be given as : M- c ... P ... Ć - M I ' the entire capital is not concentrated at one point along the circuit , but at any one time is spread along the entire circuit . Part of it exists as money waiting to be ...
... joint stock capital may be given as : M- c ... P ... Ć - M I ' the entire capital is not concentrated at one point along the circuit , but at any one time is spread along the entire circuit . Part of it exists as money waiting to be ...
Page 93
... joint stock capital . The circuit of joint stock goldmining capital may be given as : M1 - C ... P ... M · As has been suggested above , the crucial distinction between joint stock capital and private capital lies outside of the circuit ...
... joint stock capital . The circuit of joint stock goldmining capital may be given as : M1 - C ... P ... M · As has been suggested above , the crucial distinction between joint stock capital and private capital lies outside of the circuit ...
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