Marx on Finance

Fredric Jameson’s new reading of Marx’s Capital, vol. 1 uses Marx’s account of the accumulation of capital in the form of producer goods to argue that a rising rate of structural unemployment is a fundamental tendency of capitalism as Marx understood, thereby challenging a “workerist” view of how Marx though capitalism could eventually end. Scholar Robert Meister argues that Jameson fails to grasp the role financial thinking in Marx’s account of the dual role of producer goods as both means of production and financial assets, and uses this account to sketch a view of the role of financial asset markets in production that builds on a Marxian foundation.