'Investors and investees: class struggle in the age of credit' seminar by Michel Feher (2nd session)

Michel Feher

04 Dec. 2014

Industrial capitalism, Marx explains, has come to revolve around the fiction of the ‘free worker’, the owner of a commodity called labour. To think of the employer and the employee as two independent agents trading exchange in a free market is simply the fiction upon which worker exploitation is founded. However, the struggles of the labour movement were not predicated on craft or a return to previous forms of production. On the contrary, unions were formed precisely as the movement of free workers able to enter the market and change its conditions of sale. It is precisely the success of this strategy that has led to capital holders relocating profit from industrial production to financial speculation. Learning from the labour movement, it may be necessary to fight today to invent new forms of accreditation and modes of production of values capable of operating in the financial markets.

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