Hi Indra,
In order to derive the same basic meaning, please substitute "Capitalism " for Capital if it's more convenient.
In the pure sense, "Capital" describes the socioeconomic system which gives rise to its beliefs, or -isms.
Indeed, however, modern usage of "capital" has been personalized to include financial assets and specie necessary to one's personal survival.
Classical economic theory was decidedly realistic and un-gamish. Markets somehow, magically, bounced back to full production; and slumps, boom and recovery were plotted as predictable 2 x pi wave functions, sloping ever so gently upwards. Then a guy names "Keynes" demonstrated that production in many cases not only slumps, but is also subject-dependent to a great extent. Interestingly enough, Friedman's early (real, 1950-ish) stuff played on the same subjective theme, yet his personal take was to envisage Keynes' consumers as micro-financers in drag trying to guess what the government will do next with tax revenues and the money supply.
Game-theory wise, von Neuman's model of open competition predicts a winner take -all -scenario that implicitly impoverishes everyone else.
On the other hand, Nash saw people as having the good sense to see this disaster looming, and so instead devised a split the difference operator that's used extensively in gamish, negotiating environments by Ayn Rand lovers and haters alike.
Until 1987 financial mumbo-jumbo talked of markets in terms of Gauss 101, which is to say Fourrier series and log-normals...but no more. Now the game's been moved to the domains of Couchy and even (gasp!) Levy. This means ...chaos! Also, of course, that this game's over, and no more will that greasy, smiling jerk in a coat and tie be able to show you how those stocks and bonds will predictably float upwards and away under a jagged, yet altogether comprehensible, function.
This is to say, as well, that bizness skool might just get a lot harder. Perhaps the curriculum change might involve the replacement of arithmetic, chug- a- lug, date rape and dress for success with integral, differential, and matrix. Mandelbrot in, Trump out. Imagine that.
Bill Harris
----- Original Message -----
From: indra karan<mailto:[log in to unmask]>
To: [log in to unmask]<mailto:[log in to unmask]>
Sent: Saturday, March 22, 2008 3:26 PM
Subject: Re: Praxis - Fascism.
Ha ha,
I am not so well informed on this, do you mean to say the
capital as in our day today life or the notion of
capital.Please let me know.As I seem to find it very
difficult trying to grapple with the Idea of capital of
late as opposed to the means for survival/living etc.I find
it difficult to stretch further as I am confronted with the
reality of how money being made.Is it reality as such
"relaity" or a game, the so called dynamics of Game
involving the capital..
regards,
Indrakaran.
--- Henry Miller <[log in to unmask]<mailto:[log in to unmask]>> wrote:
> how can ethics be the pursuit of a 'non-fascist life' if
> 'the first
> fascism was the Social Evolutionism of late Nineteenth
> Century
> Capital'?
>
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