Realist Methodology and the Articulation of Modes of Production (ص 123)

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Realist Methodology and the Articulation of Modes of Production (ص 123)

المحتوى

of whom Marco Polo is the most renowned example - to the
multinational corporate organisations of advanced capitalism.
When Andre Gunder Frank and other "capitalist world system"
theorists (Wallerstein and Amin) discuss core—periphery
relations, they are, by and large, concerned with the
international imperialist function of merchant capital in
articulating subordinate economies to the dominant capitalist
ones — they of course seldom conceptualise it in this manner.
The main institutional conduit in articulating the peasant
commodity producing sector of the north Jordan Valley to the
home, Israeli and international markets is the owner of the
hisben, l.e. merchant wholesalers of agricultural
commodities.
If we consider the circuit of interest bearing capital, it
becomes apparent that this circuit is a variation of the
circuit of commercial capital. The main difference is that
money is the commodity which is dealt in, but this commodity
is not sold rather it is lent to be returned at some future
date in an augmented form. In the circuit of interest
bearing capital, loans can be utilised either as a means of
consumption (indebtedness in order to consume) or as 4 means
of production (indebtedness in order to capitalise). The
logic of the circuit of interest bearing capital can be
formally represented in the following form:
M — M’
where a sum of money, M, is forwarded in return for the
deferred payment of a greater sum of money, MM’. The logic
entailed is one of lending in order to increase the quantity.
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Realist Methodology and the Articulation of Modes of Production

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المنشئ

Alex Pollock

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