AUT: Fictitious Capital

["Adrian Wilding" <adrianwilding@xxxxxxxxxxxxxxxx>]

Does anyone have any thoughts about the recent spate of 'accountancy
scandals' (Vivendi in Europe, Enron and WorldCom amongst others in the
US), and how this has sent the stock markets if not into a crash, then
into what some economists are predicting as an extended chronic decline.
Clearly speculation on the stock market is speculation on future
surplus-value extraction, and so individual capitals posting inflated
profits are distorting capital-in-general's ability to predict it's own
future accumulation. But can we relate the present crisis of finance
capital more directly to cycles of struggle?

Adrian



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