Upcoming Events

International | Anti-Capitalism

no events match your query!

New Events

International

no events posted in last week

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland
Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

offsite link Top Scientists Confirm Covid Shots Cause Heart Attacks in Children Sun Oct 05, 2025 20:31 | imc

offsite link Fraud and mismanagement at University College Cork Thu Aug 28, 2025 18:30 | Calli Morganite

offsite link Deliberate Design Flaw In ChatGPT-5 Sun Aug 17, 2025 08:04 | Mind Agent

offsite link AI Reach: Gemini Reasoning Question of God Sat Aug 02, 2025 20:00 | Mind Agent

offsite link Israeli Human Rights Group B'Tselem finally Admits It is Genocide releasing Our Genocide report Fri Aug 01, 2025 23:54 | 1 of indy

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link How Small Wins Could Save the Government Sun Oct 19, 2025 19:00 | Joanna Gray
The Government is floundering like a sulky teen, but tackling small wins ? from tidying high streets to fixing DVLA chaos ? could help rebuild its confidence, suggests Joanna Gray.
The post How Small Wins Could Save the Government appeared first on The Daily Sceptic.

offsite link No Kings, No Thrones, No Crowns? No Problem Sun Oct 19, 2025 17:00 | Dr Roger Watson
The US may be shut down, but in DC the National Guard outnumbers protesters, and as Dr Roger Watson notes, streets once full of tents and beggars prove Trump actually gets things done.
The post No Kings, No Thrones, No Crowns… No Problem appeared first on The Daily Sceptic.

offsite link Jewish Lawyer is Questioned by Police Over Wearing a Star of David Necklace That ?Antagonised? Pro-P... Sun Oct 19, 2025 15:16 | Richard Eldred
The Met Police are embroiled in yet another two-tier policing row after a Jewish lawyer was held for nearly 10 hours over alleged Public Order breaches for wearing a Star of David necklace at a Kensington protest.
The post Jewish Lawyer is Questioned by Police Over Wearing a Star of David Necklace That ?Antagonised? Pro-Palestinian Protesters During Demo appeared first on The Daily Sceptic.

offsite link Maccabi Tel Aviv Fans Must be Allowed to Attend the Aston Villa Game on November 6th Sun Oct 19, 2025 13:00 | Jack Watson
Aston Villa's ban on Maccabi Tel Aviv fans reeks of anti-Israel politics, not concerns over safety, argues Jack Watson, who says Birmingham officials and an MP with pro-Gaza ties have let prejudice trump fair play.
The post Maccabi Tel Aviv Fans Must be Allowed to Attend the Aston Villa Game on November 6th appeared first on The Daily Sceptic.

offsite link Labour ?Tears Up Islamophobia Definition? Amid Free Speech Concerns Sun Oct 19, 2025 11:00 | Richard Eldred
Labour has ditched its old Islamophobia definition after concerns it could curb free speech. The party now prefers "anti-Muslim hate".
The post Labour ?Tears Up Islamophobia Definition? Amid Free Speech Concerns appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

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

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

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

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

offsite link 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

category international | anti-capitalism | opinion/analysis author Monday June 27, 2011 21:39author by Paddy Hackettauthor email 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.

Related Link: http://paddy-hackett.blogspot.com
© 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