I think it was a mistake to have coined the term “state capitalism” in the first place. By Marxism’s own meaning of “state” and Marxism’s own meaning of “capitalism,” “state capitalism” is an oxymoron. Whatever Lenin meant by it, it must have been something different from the sum of its parts, and all that has accomplished is confusion.
States, as the creators of money by fiat, are not animated by the M-C-M’ motive. They introduce arbitrary amounts of M into the economy by spending it into existence.
I wonder, is the original quote even in English or in Russian? Because if it’s in Russian originally, the translation could have messed up on the equivalent meaning in Russian somehow, causing it to seem more confusing than intended.
The original is Russian because Lenin only wrote theory in Russian. He did speak multiple languages, including German, French and a bit of English, and he probably used them in personal correspondence with other European revolutionaries, but his official books and articles are only in Russian, afaik.
Okay, thanks for clarifying that. I was trying to do a cursory look into his language(s) before writing my comment to make sure I wasn’t talking out of my ass, but found he spoke multiple languages as you say, so wasn’t sure.
I think it was a mistake to have coined the term “state capitalism” in the first place. By Marxism’s own meaning of “state” and Marxism’s own meaning of “capitalism,” “state capitalism” is an oxymoron. Whatever Lenin meant by it, it must have been something different from the sum of its parts, and all that has accomplished is confusion.
States, as the creators of money by fiat, are not animated by the M-C-M’ motive. They introduce arbitrary amounts of M into the economy by spending it into existence.
Lenin’s did not come with it, the above quote is the refutation for ultras. That term itself comes from Engels and Wilhelm Liebknecht.
I wonder, is the original quote even in English or in Russian? Because if it’s in Russian originally, the translation could have messed up on the equivalent meaning in Russian somehow, causing it to seem more confusing than intended.
The original is Russian because Lenin only wrote theory in Russian. He did speak multiple languages, including German, French and a bit of English, and he probably used them in personal correspondence with other European revolutionaries, but his official books and articles are only in Russian, afaik.
Okay, thanks for clarifying that. I was trying to do a cursory look into his language(s) before writing my comment to make sure I wasn’t talking out of my ass, but found he spoke multiple languages as you say, so wasn’t sure.
I agree, it’s a misleading term.