Ideas of another dead socialist

moorobot · #1 10-10-2007, 04:28 PM

These assertions were made by Rudolf Hilferding:

"The development of capitalist industry produces concentration of banking, and this concentrated banking system is itself an important force in attaining the highest stage of capitalist concentration in cartels and trusts"

"..amalgamation of the banks requires cartelization. For example, a number of banks have an interest in the amalgamation of steel concerns, and they work together to bring about this amalgamation even against the will of individual manufacturers."

"(Over time) the power of the banks increases and they become founders and eventually rulers of industry, whose profits they seize for themselves as finance capital (In Hilferding's terminology finance capital=capital in money form which is actually transformed in this way into industrial capital---Moo), just a sformely the old usurers seized, in the form of 'interest', the produce of the peasants and the ground rent of the lord of the manner."

Discuss.

moorobot · #2 10-10-2007, 09:33 PM

No Libertarians here to refute this?

TomCollins · #3 10-10-2007, 09:58 PM

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If you replace capitalism with merchantilism supported by government, he sounds pretty dead on.

The Don · #4 10-10-2007, 10:11 PM

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If you replace capitalism with merchantilism supported by government, he sounds pretty dead on.

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Richard Tanner · #5 10-10-2007, 10:17 PM

In any and every system (except constant forced/ritual combat maybe) power is going to collect and then topple. Natural of human nature perhaps.

Cody

ElliotR · #6 10-10-2007, 11:52 PM

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No Libertarians here to refute this?

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They're at the Ron Paul rally. Why aren't you?

AlexM · #7 10-11-2007, 12:42 AM

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No Libertarians here to refute this?

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Why? When you and people you quote use the word "capitalism," you're using it in an entirely different way than we do. This doesn't apply to us.

moorobot · #8 10-11-2007, 02:24 AM

Wait...so in AC there aren't going to be any banks?

moorobot · #9 10-11-2007, 02:32 AM

At the very least you could explain why this wouldn't be true if banks were private and not public.

tomdemaine · #10 10-11-2007, 05:16 AM

ACists probably hate State capitalism and mercantisilism more than socialists do because not only is it evil and causes untold suffering it manages to pass all the blame onto true free market capitalism meaning that the solution slips further away. It is an instrument of oppression and propaganda tool in one.