Publishing Guide

Upcoming Events

International | Anti-Capitalism

no events match your query!

New Events

no events posted in last week

Other Press

Anti-Capitalism

France Rises Up Against the New Fascism - Vaccine Passports 23:57 Jul 21 3 comments

George Floyd: one death too many in the “land of the free” 23:58 Jun 23 0 comments

The leveraged buyout, exploitation and punishment beating of Greece as warning to others. 11:45 May 11 0 comments

Red Banner issue 60 out now 13:18 Jun 22 0 comments

Red Banner issue 59 out now 17:46 Mar 28 0 comments

more >>

User Preferences

Feeds

Blog Feeds

Public Inquiry

Interested in maladministration. Estd. 2005

RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

Joe Duffy is dishonest and untrustworthy Anthony

Robert Watt complaint: Time for decision by SIPO Anthony

RTE in breach of its own editorial principles Anthony

Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland

Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

Tube Strikes Unleash ?Pure Carnage? on London as Drivers on ?72K a Year Demand More Money, a Four-Da... Mon Sep 08, 2025 11:19 | Will Jones
London is facing "pure carnage" today as striking Tube drivers on ?72,000 a year bring the capital to a standstill demanding more money, a four-day week and 75% discounts on train journeys nationwide.
The post Tube Strikes Unleash “Pure Carnage” on London as Drivers on ?72K a Year Demand More Money, a Four-Day Week and 75% Off All Rail Travel appeared first on The Daily Sceptic.

EXCLUSIVE: New Freedom of Information Revelation Casts Further Doubt on UK Met Office Claims of ?Hot... Mon Sep 08, 2025 09:00 | Chris Morrison
Met Office "hottest evah" claims are being inflated by dodgy station siting, heat spikes and old-school averaging, says the Daily Sceptic's Environment Editor.
The post EXCLUSIVE: New Freedom of Information Revelation Casts Further Doubt on UK Met Office Claims of ?Hottest Evah? Temperatures appeared first on The Daily Sceptic.

The ?Feminist? Open Letter Which Tells British Women to Shut Up and Get Raped ? Just so Long as the ... Mon Sep 08, 2025 07:00 | Steven Tucker
If you're female in Great Britain, who's on your side these days? asks Steven Tucker ? certainly not the feminists, who all suffer a bad, brain-scrambling dose of PMT: Pro-Migrant Totalitarianism.
The post The ?Feminist? Open Letter Which Tells British Women to Shut Up and Get Raped ? Just so Long as the One Doing the Raping Happens to be an Immigrant appeared first on The Daily Sceptic.

News Round-Up Mon Sep 08, 2025 00:50 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

?25 Million ?Nanny State? National Emergency Alert Flops Sun Sep 07, 2025 19:00 | Richard Eldred
Britain's ?25 million 'nanny state' emergency alert was meant to blare out to millions of phones, but the big test turned into a big flop as alarms arrived late or not at all, leaving the BBC twiddling its thumbs.
The post ?25 Million ?Nanny State? National Emergency Alert Flops appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network

Voltaire, international edition

Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

Voltaire Network >>

The Current Capitalist Crisis

international | anti-capitalism | opinion/analysis

Monday June 27, 2011 21:39

by Paddy Hackett

rasherrs at eircom dot net

Report this post to the editors

Financialisation

Financialisation is a universal scam dressed up as a sophisticated exercise designed to create the illusion that the economic system is faring well. But at the end of the day it is just a paper generator with no authentic exchange value. It just postpones the day when the law of the tendency of the general rate of profit manifests itself in the form of an economic crisis.

Marx's Capital has not lost its value as a means to a correct understanding of the nature of capitalism today. The law of value is every bit as relevant today as it was in the past.

Some commentators from within the radical left effectively dismiss Marx's Critique of Political Economy. They see financialisation as evidence that capitalism today is not subject to the law of value and the law of the tendency of the general rate of profit to fall.

Financialisation is just a disguised mechanism for pumping lots of easy credit into the economy. It constitutes a mechanism for "artificially" propping up demand for commodities and thereby maintaining profitability. This is the mechanism whereby the general rate of profit is buoyed up. However it is a mechanism that has its limits. Ultimately the underlying situation surfaces, other things being equal,leading to a general economic crisis. The capitalist class throws paper at the problem. Greshem's Law works it way through chasing good loans out of the system thereby being replaced by bad loans.

Financialisation is a universal scam dressed up as a sophisticated exercise designed to create the illusion that the economic system is faring well. But at the end of the day it is just a paper pump with no authentic exchange-value. It just postpones the day when the law of the tendency of the general rate of profit to fall manifests itself in the form of an economic crisis.

Marx's Capital has not lost its value as a means to a correct understanding of the nature of capitalism today. The law of value is every bit as relevant today as it was in the past.

Add Your Comments >>

printable version

with comments

atom feed of comments

rss feed of comments

RSS and atom feeds allow you to keep track of new comments on particular stories. You can input the URL's from these links into a rss reader and you will be informed whenever somebody posts a new comment.

Digg this

Furl

Reddit

Gab

Twitter

© 2001-2025 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy