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10月, 2025の投稿を表示しています

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The Logical Emergence of Banking Capital from the Circuit of Industrial Capital: A Modern Unoist Approach

  The circuit of industrial capital consists of two disparate process —production and circulation — , which leads to the emergence of different forms of capitals. Production is certain whereas circulation is uncertain and unpredictable. For industrial capital to continue production at a constant pace using fixed capital, idle money inevitably arises within its circuit. To utilize excessive idle money, various operations and types of capital specializing in circulation emerge. This paper examines money lending, commercial credit and commercial capital. Traditionally, following Marx’s description in Capital, capital engaged in circulation W’-G’-G-W is called merchant capital, and is, in terms of form, divided into commercial capital W’-G’ and money dealing capital G’-G. In contrast, Unoist scholars emphasized the uncertainty of circulation and argued profit-seeking behavior leads to the differentiation and emergence of specialized operations and forms of capital.  This paper dev...

The Logical Emergence of Banking Capital from the Circuit of Industrial Capital: A Modern Unoist Approach