Archivo de la categoría: Capital financiero

More momentum on the banks — Michael Roberts Blog

At the weekend, I participated in a session on what to do about the banks at the Momentum conference (The World Transformed) in Liverpool, England. For those readers who do not know what Momentum is, it is a campaigning group within the British Labour Party that supports more radical measures in favour of labour and […]

a través de More momentum on the banks — Michael Roberts Blog

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Un ejemplo de cómo opera el capitalismo en el “socialismo” estilo chino

La policía escolta en Pekín a varios manifestantes afectados por las pérdidas de las plataformas P2P. Greg Baker AFP
  • La jungla de los microcréditos online en China deja a millones sin ahorros
  • Decenas de millones de ciudadanos pierden su dinero debido al fraude y la insolvencia en el negocio, mientras Pekín aplaca cualquier atisbo de protesta

Xavier Fontdeglòria

Pekín 9 de agosto de 2018 – 23:47 ED

Xie, de 29 años y que prefiere identificarse solo por su apellido, ha perdido los ahorros de toda su familia después de que la plataforma de microcréditos online china Zhang Yue Li Cai dejase de operar repentinamente este julio. Atraída por las nada despreciables ganancias* a corto plazo, en diciembre invirtió hasta 400.000 yuanes (algo más de 50.000 euros) para que esta empresa los prestara a otras. Menos de un año después, Xie no solamente da por imposible recuperar el dinero perdido, sino que siente la persecución de las autoridades chinas, que se han desvinculado de unas prácticas que mezclan la mala gestión, el fraude y los esfuerzos de Pekín para controlar los riesgos de su sector bancario en la sombra. Seguir leyendo Un ejemplo de cómo opera el capitalismo en el “socialismo” estilo chino

Argentina en el carry trade (o la bicicleta financiera)

En la edición del 23 de marzo pasado del Cronista Comercial se informa que Argentina es uno de los países más redituables del mundo para hacer carry trade (véase Matías Barbería, “Argentina, segunda entre los países más atractivos para el carry trade”). El carry trade consiste en una operación especulativa consistente en tomar dinero prestado […]

a través de Argentina en el carry trade (o la bicicleta financiera) — Rolando Astarita [Blog]

Should Greece Pay Back Its Debt?

Özlem Onaran

Financial speculators are nervously asking whether Greece will pay its debt or default. Political leaders from Europe to the US and the IMF are telling the Greek government to leave aside its democratic mandate and accept further austerity as a condition for getting credit to continue to pay back its debt. But the right question politically is: should Greece pay this debt.?

On 4 April the President of the Hellenic Parliament, Zoe Konstantopoulou, set up the Debt Truth Committee – a special committee of the Parliament to investigate the truth about the increase in Greece’s public debt. Eric Toussaint of the Committee for the Abolition of Third World Debt is the team’s scientific coordinator. The Debt Truth Committee currently includes 35 international and Greek experts in law, economics, accounting, banking from Europe as well as Zambia, Ecuador, and Brazil.

There are well-established concepts in international law that question the legality, legitimacy, sustainability or odiousness of a loan agreement if and when it deters a state from meeting its obligations to its citizens to ensure adequate access to health and education, a life with dignity, and the right to organise. There is a long history of states making use of these legal concepts to enter into dispute with their creditors over their sovereign debt starting with Cuba in 1898, the US in Iraq in 2003 and Ecuador in 2007.

These legal concepts are the guiding references for the Debt Truth Committee: Is any part of Greek public debt before or after the Memoranda of Understanding (MoU) with the Troika illegitimate? Was it contracted by a government without considering whether the public or general interest would be safeguarded? Was any part of it contracted in violation of the current legal or constitutional system? Has any part of the debt been granted on conditions that violate the social, economic, cultural, civic, and political rights of the people concerned? Were the loans intended not to save Greece but French and German banks?

The creditor institutions as well as the debtor governments have an obligation to audit these aspects before any loan agreement is made. Did EU governments consider whether any of these loan agreements violated the EU Charter of Fundamental Rights?

Seguir leyendo Should Greece Pay Back Its Debt?

Profitability and the Roots of the Global Crisis: Marx’s ‘Law of the Tendency of the Rate of Profit to Fall’ and the US Economy, 1950–2007

Abstract The relevance of Marx’s theory of value and his ‘law of the tendency of the rate of profit to fall’ to the analysis of the financial crisis of 2007–8 and the ensuing global slump is affirmed. The hypertrophic growth of unproductive constant capital, including the wages of ‘socially necessary’ unproductive labour and tax revenues, is identified as an important manifestation of an historical-structural crisis of capitalism, alongside the increasing weight of fictitious capital and the proliferation of fictitious profits in the lead-up to the financial crisis. These phenomena have obscured the deepest roots of the global slump in the long-term profitability problems of productive capital – that is, in a crisis of surplus-value production. With these considerations taken into account, a better empirical assessment of trends in the composition of capital becomes possible, and with it a more accurate understanding of the impact of the ongoing displacement of living labour from production on the average rate of profit and the future of US and global capitalism.

Affiliations: 1: Brock University msmith@brocku.ca ; 2: Brock University jbutovsky@brocku.ca

Fuente: http://booksandjournals.brillonline.com/content/10.1163/1569206x-12341273;jsessionid=842jsnqufgkoi.x-brill-live-01

Crédito, Crise e o Fetichismo do Dinheiro

FETICHEO sistema capitalista consegue operar distintas formas de riqueza em diferentes níveis de abstração. A riqueza é produzida e circulada concomitantemente em diferentes camadas de representação. A primeira é a da produção do valor pelo trabalho vivo humano. A segunda a da circulação do dinheiro. A terceira a da circulação do crédito. E por fim a circulação do capital fictício. O sistema assim funciona através de representações de representações de valores. A base é sempre fornecida pelo trabalho direto humano, mas a existência de tantas camadas mediadoras acaba por apagar os laços que conectam formas superiores de representação em relação ao que de fato representam. Esta aparente desconexão entre as representações do valor e o valor criado pelo trabalho vivo é o que Marx chama de fetichismo. A história do capitalismo, incluindo a crise atual nos países ricos, nos revela como o dinheiro e o crédito ora funcionam como propulsores da produção e ora como formas de riqueza que momentaneamente se descolam do valor gerado através do trabalho. A crise financeira nada mais é do que o ajuste interno do sistema para que as representações da riqueza se realinhem com a produção de valor.

A ideia de que o modo capitalista de produzir riqueza opera através de representações de representações de valor já foi analisada anteriormente por Leda Paulani (aqui e aqui) e Rodrigo Teixeira (aqui e aqui) através do conceito de autonomização. Agora David Harvey também embarca nesta empreitada, ainda que não use propriamente o conceito de autonomização. Confira o vídeo abaixo, gravado em janeiro de 2012 com o título de “Swindlers and Prophets: Facts, Fictions and Fetishisms” e produzido pela BioEcon Media.

 

Fuente: http://marx21.com/2013/02/24/credito-crise-e-o-fetichismo-do-dinheiro/#more-5942