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Das Kapital reading group – Week 43, Oct 21-27 – Chapter 31, Chapter 32, and Chapter 33 of Volume III (hexbear.net)

submitted 4 weeks ago by Vampire@hexbear.net to c/theory@hexbear.net

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Ok so I was offline all last week.

I posted post number 42 here today, a week late – https://hexbear.net/post/3733064 – so we have the chunk carved out for next year's round.

The good news is we are considerably ahead of the curve. If you have to do Week 42 and Week 43 this week because I was offline, that's about 78 pages, not 2 full weeks really.

Explain the bookclub: We are reading Volumes 1, 2, and 3 in one year and discussing it in weekly threads. (Volume IV, often published under the title Theories of Surplus Value, will not be included in this particular reading club, but comrades are encouraged to do other solo and collaborative reading.) This bookclub will repeat yearly.

I'll post the readings at the start of each week and @mention anybody interested. Let me know if you want to be added or removed.

Just joining us? You can use the archives below to help you reading up to where the group is. There is another reading group on a different schedule at https://lemmygrad.ml/c/genzhou (federated at !genzhou@lemmygrad.ml ) which may fit your schedule better. The idea is for the bookclub to repeat annually, so there's always next year.

Archives: Week 1 – Week 2 – Week 3 – Week 4 – Week 5 – Week 6 – Week 7 – Week 8 – Week 9 – Week 10 – Week 11 – Week 12 – Week 13 – Week 14 – Week 15 – Week 16 – Week 17 – Week 18 – Week 19 – Week 20 – Week 21 – Week 22 – Week 23 – Week 24 – Week 25 – Week 26 – Week 27 – Week 28 – Week 29 – Week 30 – Week 31 – Week 32 – Week 33 – Week 34 – Week 35 – Week 36 – Week 37 – Week 38 – Week 39 – Week 40 – Week 41 – Week 42

Week 43, Oct 21-27 – Chapter 31, Chapter 32, and Chapter 33 of Volume III

Chapter 31 is called 'Money-Capital and Real Capital. II'

Chapter 32 is called 'Money-Capital and Real Capital. III'

Chapter 33 is called 'The Medium of Circulation in the Credit System'

https://www.marxists.org/archive/marx/works/1894-c3/index.htm

Discuss the week's reading in the comments.

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[–] Vampire@hexbear.net 9 points 4 weeks ago (1 children)

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[–] Kolibri@hexbear.net 3 points 3 weeks ago

We're half way through vol three meow-bounce

[–] Kolibri@hexbear.net 2 points 3 weeks ago* (last edited 3 weeks ago)

The last few chapters really interesting like chapter 33, and then comparing it to today's time. Where a lot of things are done with banks or credit unions? One of the things this reminded me of is people who say money is dead or dying due to like things going digital? But I think Marx shows that won't ever be the case since there will be plenty of times money will always be needed, especially in times of in crises? At least in capitalist production and that there will always be a medium of sorts? I do kind of wonder how much digital stuff has affected the medium along with credit? Since it probably made things more easier and more efficient. Like referenced here with other stuff

According to the testimony of W. Newmarch before the Bank Committee 1857, No. 1741, other circumstances also contributed to economy in the circulating medium: penny postage, railways, telegraphy, in short, the improved means of communication; thus England can now carry on five to six times more business with about the same circulation of bank-notes.

Also it's really interesting that the last few chapters talked about crises more to.

Talk about centralisation! The credit system, which has its focus in the so-called national banks and the big money-lenders and usurers surrounding them, constitutes enormous centralisation, and gives to this class of parasites the fabulous power, not only to periodically despoil industrial capitalists, but also to interfere in actual production in a most dangerous manner — and this gang knows nothing about production and has nothing to do with it. The Acts of 1844 and 1845 are proof of the growing power of these bandits, who are augmented by financiers and stock-jobbers.

Isn't this what happen in 2008?