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 61
... value represented by such a token as standard of price is the value of commodities expressed by the unit of gold which that token represents . It thus becomes a surrogate expression of the prices of commodities and as such , of the ...
... value represented by such a token as standard of price is the value of commodities expressed by the unit of gold which that token represents . It thus becomes a surrogate expression of the prices of commodities and as such , of the ...
Page 71
... value one day becomes actual value the next . The fixed price serves as a barrier to the competitive transfer of ... token of value , posited by gold , now posit gold as a token of it . ( ii ) At its point of production , gold enters ...
... value one day becomes actual value the next . The fixed price serves as a barrier to the competitive transfer of ... token of value , posited by gold , now posit gold as a token of it . ( ii ) At its point of production , gold enters ...
Page 72
... value ( Marx , 1973 , p . 204 , emph . ours . ) . In other words , gold is here commodity , but it is not yet money . But the token of value , paper currency , makes no such distinction . It knows gold only as a material . It recognises ...
... value ( Marx , 1973 , p . 204 , emph . ours . ) . In other words , gold is here commodity , but it is not yet money . But the token of value , paper currency , makes no such distinction . It knows gold only as a material . It recognises ...
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