Someone here linked this to me recently and I thought yall would enjoy it since we talk a lot about Captial in relation to lovecraftian horror.

Capital doesn’t care how its money is actually used in production. It entirely abstracts from all concrete activities. The only thing it can sense, compare and use is abstract value.

So the commanding heights of the global economy consists of an enormous ensemble of individual capitals, each manically scrambling for profit, reacting to the signals of differential returns received from its tendrils that extend to every productive activity under its rule, continually injecting and withdrawing capital to and from different industrial sectors and geographical regions. The entirety of the world’s material resources, including the working time of billions of people, are repeatedly marshalled and re-marshalled away from low and towards high-profit activities. In the space of months, entire industrial sectors may be raised up, relocated, or thrown down. What about the individual people who participate in this social practice? Surely their individual consciousness, their ideas, and their behaviour matter, and make a difference?

To a certain extent they do of course. But individuals come and go, but capitals live much longer than any individual human. The people controlled by the capital — that is the workers that supply labour to firms, and capitalists that exploit them and extract profits — are mere replaceable components in the control loop, mechanically performing prescribed functional roles.

For example, Marx writes in Capital, that:

“to classical economy, the proletarian is but a machine for the production of surplus-value; on the other hand, the capitalist is in its eyes only a machine for the conversion of this surplus-value into additional capital.”

We often say that a capitalist possesses capital. But it is more accurate to say that capital possesses them. Capitalists are the human face of an inhuman intelligence with its own logic and its own goals.

  • emizeko [they/them]
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    edit-2
    2 years ago

    Let’s travel back to Marx’s Grundrisse:

    It is not individuals who are set free by free competition; it is, rather, capital which is set free.

    Beyond being a brilliant rebuke of liberal praise of “competition” in the abstract, it is notable that Marx here does not speak about worker versus capitalist, but of individual (that is, human) versus capital. If this seems like a tendentious reading, consider this fragment from his 1844 manuscripts:

    Estrangement appears not only in that the means of my life belong to another, and that my desire is the inaccessible possession of another, but also in that all things are other than themselves, and that — and this goes for capitalists too — an inhuman power rules over all.

    Marx’s “inhuman power” and “capital which is set free” is the same entity that Eric Li has in mind when he speaks of “capital itself” and its “enshrined rights.” This talk, which appealingly (to me) borders on the supernatural, stands in stark contrast with Bernie Sanders-style rhetoric that chalks the problems we are mired in up to mere “corporate greed.” Greed is the vice in question, of course. One to be cursed and curbed. But every serious theorist understands that we face a far more serious challenge than the mere assembly of policy-makers with good moral fiber.

    from https://redsails.org/china-has-billionaires/