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
... capital , constitute the profit , must here be divided between return to the individual money ( M ) , and return to social money ( M ) . Whether M ' re - enters the circuit at м depends upon the magnitude of MS in comparison to other ...
... capital , constitute the profit , must here be divided between return to the individual money ( M ) , and return to social money ( M ) . Whether M ' re - enters the circuit at м depends upon the magnitude of MS in comparison to other ...
Page 93
... capital , in the undifferentiated body of social capital . What is crucial is not what lies between M , M ,, but between M → M , between the close of one circuit and the opening of another , for an objective break is now reintroduced ...
... capital , in the undifferentiated body of social capital . What is crucial is not what lies between M , M ,, but between M → M , between the close of one circuit and the opening of another , for an objective break is now reintroduced ...
Page 116
... capital is the rise of social capital , i.e. , the commoditisation of capital . Capital itself becomes an object of capital : it is bought and sold on the stock exchange . Labour is similarly freed from particular applications by its ...
... capital is the rise of social capital , i.e. , the commoditisation of capital . Capital itself becomes an object of capital : it is bought and sold on the stock exchange . Labour is similarly freed from particular applications by its ...
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