The problem isn't unions. Its the corporate bureaucracies coupled with advanced financial instruments such as derivatives which are overshadowing production.
Karl Marx pointed out that the production process was simply a hindrance to the capitalist - if he could, he'd forego the whole process of transforming his money into products and back into money, and go straight from money-to-money.
And this is what derivatives and securitizations seek to accomplish. By investing in bets for and against different firms, commodities and nations, capitalists can make a lot more money than they ever would by producing commodities.
Why hold your breath for their investment?
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Re: Can you tell I'm avoiding a paper?
Date: 5/11/10 18:22 (UTC)Karl Marx pointed out that the production process was simply a hindrance to the capitalist - if he could, he'd forego the whole process of transforming his money into products and back into money, and go straight from money-to-money.
And this is what derivatives and securitizations seek to accomplish. By investing in bets for and against different firms, commodities and nations, capitalists can make a lot more money than they ever would by producing commodities.
Why hold your breath for their investment?