by americandream » Tue 07 Jul 2015, 18:16:20
$this->bbcode_second_pass_quote('Pops', 'T')he problem with the "problem of infinite accumulation in a finite world" is wealth does not infinitely accumulate.
China is the worlds largest economy and 30 percent of the equity "wealth" there has evaporated in the last couple weeks... not to mention that real estate has been headed down for a while and who knows where it really is..
That's $3Trillion in "accumulation" that went poof, it definitely was not infinite.
I kinda think a person needs to separate in their head the idea of wealth as actual physical stuff — stuff with a positive present, tangible value, from stuff with an apparent future value based on BAU.
I guess I need to read more but at this point I see the future following along the path of Ricardo's theory of scarcity and rents than Marx's theory of surpluses of capital and labor. "Mining" surpluses of labor for profit was a great theory during the industrial revolution but I think it was energy slaves that provided and enabled the surplus, not capital and certainly not capitalists.
Ricardo provides us with a basis for the one off exercise of rent appropriation, in classic economic tradition. Marx goes one further in identifying the resultant source of the accumulative capacity latent in that transaction (dependent of course on social relations), and thus the nature of labour and the encompassing social relations.
Within that composite framework lie many of the answers we seek in our search for the closing chapters to global scale resource exhaustion and of course, that most troubling of all, climate degredation.
So the Marxian view not only encompasses, implicitly, the rent mechanism, it then takes that the logical extent of its application into the domain of social relations, thus teasing out the ultimate scope of capitalism, its tendencies and contradictions. Appropriation and labour surplus....keys in the nature of the oncoming crisis and its scope.