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Jose antonio primo de rivera
"The other side, opposed to both employers and workmen, is the power of capitalism, the technique of finance-capitalism. If this is not true, then tell me, you who have far more experience than I have in such things: –how often have you had to go to the great credit houses to ask for economic aid, well aware that they charge you interest at the rate of 7 or 8 per cent, and equally well aware that this money they lend you does not belong to the institution that is lending it, but belongs to those who have deposited it and who are receiving 1,5 or 2 per cent interest themselves? This huge difference that they charge you for passing the money from one hand to another weighs jointly upon you and your workmen, who maybe are even now waiting round a corner to kill you.
It is this finance-capital, then, which has been travelling towards its own collapse in recent decades."
Capitalism is much maligned when it shoulf be finance capitalism that is the true culprit.
"Thus this great capital, this technical capital, this capital which attains huge proportions, not only has nothing to do, as I said, with property in the elementary human sense of the word, but is hostile to it. That is why on many occasions, when I see how employers and workmen, for instance, reach the stage of violent conflict, even to the point of killing one another in the streets, even to the point of falling victims to outrages that express a savage hatred past all repair, I think to myself that neither side is aware that they are protagonists in an economic struggle, certainly, but one in which nine times out of ten both lots of them are on the same side. The other side, opposed to both employers and workmen, is the power of capitalism"
Not surprisingly, it is finance that sets workmen against the owners of the means of production.
"first, the accumulation of capital, which cannot fail to be produced by large-scale industry. Small-scale industry worked with practically two ingredients alone: labour and raw material. In periods of crisis, these two things were easy to reduce: less raw material was bought, the number of hands employed was reduced, and production was roughly equated to the market's demands. But large-scale industry comes into being, and large-scale industry, apart from that element which Marx himself calls variable capital, employs a vast part of its reserves in fixed capital –a vast part, far exceeding the value of the raw materials and wages of labour; and it sets up great installations of machinery which cannot be instantaneously reduced.
Hence, if production is to repay this vast concentration of dead capital, there is nothing this type of industry can do but produce on an enormous scale, as it does; and as it produces cleaper by dint of increasing the volume of production, it invades the small producers domain, ruining them one by one, and ends by absorbing them all."
Also, as it produces on an enormous scale, it must promote a high level of consumption AND a high level of credit.
"This Karl Marx long since augured the social collapse of capitalism which I am discussing with you now."
"Craftsmen displaced from their positions, craftsmen who have been the owners of their own means of production and who naturally have had to sell this as it is now useless to them, as also small manufacturers and small traders, continue to get economically crushed by this huge, colossal, irresistible advance of big capital, and end by becoming incorporated in the proletaries, and proletarianized. Marx describes this in remarkably dramatic terms and he says that these men, after selling their products, selling the means they had of manufacturing their products, and selling their houses, have now nothing left to sell, and they then realise that they themselves can be a form of merchandise, their very labour can he a form of merchandise, and they rush to the marketto hire themselves out in temporary slavery. This phenomenon, then, the proletarianization of vast masses, and their conglomeration round city factories, is another symptom of the social bankruptcy of capitalism."
Check!!! small business and small enterprise is continually destroyed by the big boys who can afford to operate at a loss in a few areas so that they can bankrupt their small competitor.
"The displacement of men by machines is not accompanied by even the poetical compensation"
"while maintaining the working day more or less unchanged –for the reduction in working hours is due to different causes–to displace all the surplus men. Nor has it had the compensation of involving an increase in wages. It is clear that workmen's wages have increased; but here again we must repeat everything truthfully just as we find it in the statistics. In the prosperity period in the United States, from 1992 to 1939, do you know how much the total volume of wages paid to workmen went up? Well, it went up 5 per cent. And do you know how much dividends on capital went up during the same period? Well, it was eighty-six per cent. Tell me if that is a fair way of sharing the advantages of mechanisation!"
Yep, surplus men. Chart Of The Day: The Relentless 65-Year Decline In The Labor Force Participation Of Men | David Stockman's Contra Corner
"For instance: periodic crises have been a phenomenon produced by large
-scale industry, and produced by exactly the same cause I mentioned before, when I dealt with the accumulation of capital. The irrecoverable expenditure of the original installation is dead-weight expenditure which can in no case be reduced as the market shrinks. Overproduction, the overproduction on a violent scale of which I
spoke before, ends by saturating the markets. Then underconsumption is produced, and the market absorbs less than the factories are delivering to it. If the structure of the former small-scale economic system had been preserved, production would decline in proportion to demand by means of a diminution in the intake of raw materials and labour; but as this cannot be done in the case of large-scale industry, since it has this vast fixed capital, large-scale industry is ruined; that is to say, technically large-scale industry has to face periods of worse crisis than small "
Many corporations are now borrowing money to pay stock dividends. Business 101; you can shrink your labor and raw materials but, it is very difficult to shrink your debt load.
"as soon as the periods of crisis arrive it has recourse to public assistance, and so we have seen how the most powerful concerns have resorted to the benevolence of the State, either to gain tariff protection or to obtain financial support. In other words, to quote a writer hostile to the capitalist system, the capitalism which is so haughty and so refractory in the matter of a possible socialisation of its profits, is the first to beg, when things are going badly, for the socialisation of its losses."
Yep, the corporate taxes are at an all-time low if you take everything into account ( socializing the profits ) Bailouts are at an all-time high ( socializing the losses ).
http://fundacionjoseantonio.es/doc/A..._en_ingles.pdf
"The other side, opposed to both employers and workmen, is the power of capitalism, the technique of finance-capitalism. If this is not true, then tell me, you who have far more experience than I have in such things: –how often have you had to go to the great credit houses to ask for economic aid, well aware that they charge you interest at the rate of 7 or 8 per cent, and equally well aware that this money they lend you does not belong to the institution that is lending it, but belongs to those who have deposited it and who are receiving 1,5 or 2 per cent interest themselves? This huge difference that they charge you for passing the money from one hand to another weighs jointly upon you and your workmen, who maybe are even now waiting round a corner to kill you.
It is this finance-capital, then, which has been travelling towards its own collapse in recent decades."
Capitalism is much maligned when it shoulf be finance capitalism that is the true culprit.
"Thus this great capital, this technical capital, this capital which attains huge proportions, not only has nothing to do, as I said, with property in the elementary human sense of the word, but is hostile to it. That is why on many occasions, when I see how employers and workmen, for instance, reach the stage of violent conflict, even to the point of killing one another in the streets, even to the point of falling victims to outrages that express a savage hatred past all repair, I think to myself that neither side is aware that they are protagonists in an economic struggle, certainly, but one in which nine times out of ten both lots of them are on the same side. The other side, opposed to both employers and workmen, is the power of capitalism"
Not surprisingly, it is finance that sets workmen against the owners of the means of production.
"first, the accumulation of capital, which cannot fail to be produced by large-scale industry. Small-scale industry worked with practically two ingredients alone: labour and raw material. In periods of crisis, these two things were easy to reduce: less raw material was bought, the number of hands employed was reduced, and production was roughly equated to the market's demands. But large-scale industry comes into being, and large-scale industry, apart from that element which Marx himself calls variable capital, employs a vast part of its reserves in fixed capital –a vast part, far exceeding the value of the raw materials and wages of labour; and it sets up great installations of machinery which cannot be instantaneously reduced.
Hence, if production is to repay this vast concentration of dead capital, there is nothing this type of industry can do but produce on an enormous scale, as it does; and as it produces cleaper by dint of increasing the volume of production, it invades the small producers domain, ruining them one by one, and ends by absorbing them all."
Also, as it produces on an enormous scale, it must promote a high level of consumption AND a high level of credit.
"This Karl Marx long since augured the social collapse of capitalism which I am discussing with you now."
"Craftsmen displaced from their positions, craftsmen who have been the owners of their own means of production and who naturally have had to sell this as it is now useless to them, as also small manufacturers and small traders, continue to get economically crushed by this huge, colossal, irresistible advance of big capital, and end by becoming incorporated in the proletaries, and proletarianized. Marx describes this in remarkably dramatic terms and he says that these men, after selling their products, selling the means they had of manufacturing their products, and selling their houses, have now nothing left to sell, and they then realise that they themselves can be a form of merchandise, their very labour can he a form of merchandise, and they rush to the marketto hire themselves out in temporary slavery. This phenomenon, then, the proletarianization of vast masses, and their conglomeration round city factories, is another symptom of the social bankruptcy of capitalism."
Check!!! small business and small enterprise is continually destroyed by the big boys who can afford to operate at a loss in a few areas so that they can bankrupt their small competitor.
"The displacement of men by machines is not accompanied by even the poetical compensation"
"while maintaining the working day more or less unchanged –for the reduction in working hours is due to different causes–to displace all the surplus men. Nor has it had the compensation of involving an increase in wages. It is clear that workmen's wages have increased; but here again we must repeat everything truthfully just as we find it in the statistics. In the prosperity period in the United States, from 1992 to 1939, do you know how much the total volume of wages paid to workmen went up? Well, it went up 5 per cent. And do you know how much dividends on capital went up during the same period? Well, it was eighty-six per cent. Tell me if that is a fair way of sharing the advantages of mechanisation!"
Yep, surplus men. Chart Of The Day: The Relentless 65-Year Decline In The Labor Force Participation Of Men | David Stockman's Contra Corner
"For instance: periodic crises have been a phenomenon produced by large
-scale industry, and produced by exactly the same cause I mentioned before, when I dealt with the accumulation of capital. The irrecoverable expenditure of the original installation is dead-weight expenditure which can in no case be reduced as the market shrinks. Overproduction, the overproduction on a violent scale of which I
spoke before, ends by saturating the markets. Then underconsumption is produced, and the market absorbs less than the factories are delivering to it. If the structure of the former small-scale economic system had been preserved, production would decline in proportion to demand by means of a diminution in the intake of raw materials and labour; but as this cannot be done in the case of large-scale industry, since it has this vast fixed capital, large-scale industry is ruined; that is to say, technically large-scale industry has to face periods of worse crisis than small "
Many corporations are now borrowing money to pay stock dividends. Business 101; you can shrink your labor and raw materials but, it is very difficult to shrink your debt load.
"as soon as the periods of crisis arrive it has recourse to public assistance, and so we have seen how the most powerful concerns have resorted to the benevolence of the State, either to gain tariff protection or to obtain financial support. In other words, to quote a writer hostile to the capitalist system, the capitalism which is so haughty and so refractory in the matter of a possible socialisation of its profits, is the first to beg, when things are going badly, for the socialisation of its losses."
Yep, the corporate taxes are at an all-time low if you take everything into account ( socializing the profits ) Bailouts are at an all-time high ( socializing the losses ).
http://fundacionjoseantonio.es/doc/A..._en_ingles.pdf
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