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 117
... sell to another company of speculators , and so the business has been conducted . In California and other new ... selling mines on speculation , the gold interest would have been in a very different condition . In Virginia the deepest ...
... sell to another company of speculators , and so the business has been conducted . In California and other new ... selling mines on speculation , the gold interest would have been in a very different condition . In Virginia the deepest ...
Page 160
... selling the product or selling the shares , even if Innes insists on calling it that . Wheatcroft does make this distinction : the problem was diametrically opposed to Kimberley's . The magnates , however , very quickly saw that in the ...
... selling the product or selling the shares , even if Innes insists on calling it that . Wheatcroft does make this distinction : the problem was diametrically opposed to Kimberley's . The magnates , however , very quickly saw that in the ...
Page 179
... sell . In the case of non - competitive capital , the product will simply not be produced . Mines which do not produce do not pay dividends . Mines which do not pay dividends loose their capital . The pressure is therefore on every mine ...
... sell . In the case of non - competitive capital , the product will simply not be produced . Mines which do not produce do not pay dividends . Mines which do not pay dividends loose their capital . The pressure is therefore on every mine ...
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