A Quick Question on Marx and Contemporary Economics

[B0LSHEVIK]

What would Marx have to say about todays 'financialized' economics? About major world economies based around financial gimmicks instead of actual production? About stocks/401k's and ownership of such capital?

And, are we not in the final stages of capitalism? One would say that theoretically capitalism drives to create a free global market to exploit. I think thats been achieved. So, are we not at least fast approaching the critical point in which capitalism brings down it self, eg, capitalists would destroy capitalism.

Isnt this what Marx said in the manifesto?

[The Idler]

No capitalism will not collapse of its own accord just because it has a opened the world to the free market.
Financial capital is not qualitatively worse than industrial capital.

[B0LSHEVIK]

No capitalism will not collapse of its own accord just because it has a opened the world to the free market.
Financial capital is not qualitatively worse than industrial capital.

Im not saying capitalism it will self implode, but it will create the necessary static and instability while also marginalizing and radicalizing the world proletariat no?

[The Idler]

Capitalism marginalises, yes but radicalises? No, that is the task of the workers.

[MarxSchmarx]

So Marx had a notion of "g-> g'" economies where the goal of the economy was to maximize surplus capital (I forget what the g was for), as opposed to p->p' economies where the goal of the economy was to maximize productive capacity and a c->c' economy where the goal was to maximize consumption. Clearly we have come to prioritizing the g->g' model, which is what a "financialized"capitalism is.

[S.Artesian]

Marx would say all this "financialization" is derivative of the tendency of the rate of profit in industry, in manufacturing, mining, utilities, and services to decline.

He would say the finanicalization becomes the vehicle for the devaluation of capital on a grand scale, plunging the economy into a period of destruction of the components of production, accumulated and living, in the attempt to restore the rate of profit.