A Socialist View of Compound Interest

Mainstream economics is adamant against looking at debt as something that can grow exclusive from a society’s ability to carry it. There have been few who have bothered to even conduct an investigation. Usually one has to look at socialists or lunatic fringe rightists to get any kind of questioning. Even then, the rightists tend…

From Marx to Goldman Sachs: The Fictions of Fictitious Capital

As published in Critique, based on a presentation given at the China Academy of Sciences, School of Marxist Studies in Beijing in November 2009, and at the Left Forum in New York City, March 20, 2010. Classical economists developed the labor theory of value to isolate economic rent, which they defined as the excess of…

Foxconn & the Organic Composition of Capital

Originally From: http://economicsofimperialism.blogspot.ca/2011/08/foxconn-organic-composition-of-capital.html “Foxconn, the world’s largest contract electronics manufacturer by revenue, plans to increase the use of robots in its factories 100-fold to 1m within three years, according to Terry Gou, chairman and chief executive.” (Financial Times, 1 August 2011) Taiwanese company Foxconn has already made an appearance on this blog. Last time it…