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GS English: Competition of Capitalists (Overview / Chapter III)

Von • Mrz 27th, 2021 • Kategorie: International


GS English (January 17, 2021):


Competition of Capitalists



Competition of Capitalists will appear continuously in the political quarterly magazine GegenStandpunkt. This page provides an overview of the table scheme as it has been finalized so far.

Updated January 17, 2021.



Competition of Capitalists

Chapter III

Increasing growth: The productivity of capitalism


§ 13 Reducing unit costs


1. The dictate of the market: reduce unit costs

2. The remedy: even more advanced capital so that fixed costs lead to a saving of labor costs

3. From the market price determining the rate of profit, to the profit-rate calculation determining the selling price

4. The method: radically changing the production process, and systematically applying the formula to the use of wage labor and its payment


§ 14 The market: Where capitalist progress does its work and is put to the test


1. Demands on the market, effect on the market: Price, mass, and speed of the turnover of goods pass their judgment on the capitalistic usefulness of productivity

2. Competing for an attribute called ‘competitiveness’

3. A progress-geared labor market, through and for a progress-geared capital growth

4. The public’s buying power: both demanded and restricted; two top products of the market: customer and advertising


§ 15 Growth through progress: a new catalog of tasks for the lawgiver


– Within its borders

1. Legal assistance for the competition over progress through technology,[i] in the factory and on the market

2. A public foundation for science and technology

3. Legal conditions for using society’s workforce to promote growth

4. Forming and maintaining a serviceable working class

5. Dealing with troublesome protest from “the grass roots”: rejection but also recognition, and treatment as a collective welfare case

6. Making sure that capital, land ownership, buying power, and the environment work together to serve the common good

7. How the state budget divides the working class


– Beyond its borders


1. Benefit and disadvantage of progress in international competition

2. Growth policy based on protective tariffs and free trade

3. Modern location policy

4. The imperative to be competitive, and the conditional validity of local patriotism in capitalism


§ 16 Power and powerlessness of credit in the competition for competitiveness


1. Necessity and function of credit in capitalist producers’ competitive struggle for increased capital productivity

2. Speculative reality in the development of productive forces: The banking industry directs a competition that causes selection. Insolvency and bankruptcy


§ 17 The state as promoter, user, and guardian of the credit system


– Within its borders


1. New tasks for the law: Separating conscientious risk from fraud, and properly handling the regular exceptions to the required growth

2. Public debt to protect and preserve an effective credit system


– Beyond its borders


1. “Strong” or “weak” currency: The abstract summary of the nation’s world-market successes and failures, and its significance

2. Everything for a “strong” currency


§ 18 Success alongside failure, the standpoint of real and imagined victims & beneficiaries as an opinion-forming productive force


1. “Mismanagement” is popular business theory

2. “Rapacious” vs. “productive” capital is an entrenched part of cultural heritage[iv]

3. One is allowed to ask if the government should really permit some things, much less support them

4. It is lamentable that jobs end up elsewhere

5. Equally lamentable: the state of health of the environment, but saving it is compatible firstly with the economy, and secondly with technology, whose progress nobody wants to stop


The bottom line: The ethics of capitalism

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