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 30
... unit to be constant over time . A fluctuating measure of value interferes with the consummation of sale by purchase.5 In other words , it undermines the raison d'être of ... unit of a particular commodity . In other words , a single unit 30.
... unit to be constant over time . A fluctuating measure of value interferes with the consummation of sale by purchase.5 In other words , it undermines the raison d'être of ... unit of a particular commodity . In other words , a single unit 30.
Page 59
... unit of price . And , like all units , it immediately posits a system structured around itself as central calibration , with fractions below and multiples above it . In the case of gold this unit is a unit of weight . The expression of ...
... unit of price . And , like all units , it immediately posits a system structured around itself as central calibration , with fractions below and multiples above it . In the case of gold this unit is a unit of weight . The expression of ...
Page 60
... unit weight , others fractions of that unit weight , and still others multiples of it . Initially , i.e. , historically , they had their respective weights marked on them for ease of recognition . They also came to be shaped into discs ...
... unit weight , others fractions of that unit weight , and still others multiples of it . Initially , i.e. , historically , they had their respective weights marked on them for ease of recognition . They also came to be shaped into discs ...
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