Monday, June 07, 2010

corruption of the language

Terms such as "social capital" and "human capital" represent a corruption of the language we have to think about social and economic issues. Once you understand that the origin of capital itself is social (accumulated surplus value extracted from labourers) then it doesn't make sense to have social or human capital that is distinct from a fictional non social capital. This is explained in a far more detailed and sophisticated manner by Ben Fine and Costas Lapavitsas in this article: Social Capital And Capitalist Economies (pdf 18pp)

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