Finance and the “other exploitation”
Review of Costas Lapavitsas' Profiting without producing , Verso 2013 Capitalist exploitation is not just by the boss extracting from the worker, in return for a meagre more-or-less “living wage”, an expansible value-added which may be something like three times what’s paid out in wages. It also comes from making working-class households pay interest on debts which they run up, often on disadvantageous terms, because of their relative poverty and relative lack of power in the markets. This “other” exploitation is not a new idea. Costas Lapavitsas quotes references to it from Marx’s Theories of...