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.

This week's reading is shorter than most.

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, Sept 30-Oct 6 – Chapter 24 and Chapter 25 of Volume III

Chapter 24 is called 'Externalisation of the Relations of Capital in the Form of Interest-Bearing Capital'

Chapter 25 is called 'Credit and Fictitious Capital'

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

Discuss the week's reading in the comments.

  • Kolibri [she/her]
    ·
    3 months ago

    Chapter 25 was really interesting, some of it reminded me of MMT from Hudson a little? Also it interesting Marx saying this

    [...]Generally speaking, this aspect of the banking business consists of concentrating large amounts of the loanable money-capital in the bankers' hands, so that, in place of the individual money-lender, the bankers confront the industrial capitalists and commercial capitalists as representatives of all moneylenders. They become the general managers of money-capital. On the other hand by borrowing for the entire world of commerce, they concentrate all the borrowers vis-à-vis all the lenders. A bank represents a centralisation of money-capital, of the lenders, on the one hand, and on the other a centralisation of the borrowers.[...]

    and in today time that seems very centralized all over the world now days due to the united states being a global reserve currency, for all capitalists of the world?