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The capital markets have turned into the rights market, or just turns?

Рынок капитала превратился уже в рынок прав или только превращается?

For the first time, with the highest possible degree of popularization are presented in a whole chain of oposredstvovanii, naturally gave rise to a legal relationship as an expression of the relations of production on the surface of society, is immediately given to the consciousness of man, but hiding from the awareness of all the social relations, the expression of which are the legal relations.

What is a right? and expression what it is?

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Well-known Russian financier Andrei Movchan in the business Breakfast “macroeconomic forecast-2020”, said: “the capital Market is converted to market right… there is a market in the rights, the rights will be to securitize, in units rights would be considered wealth can give, sell, bequeath, etc. But it will be a new life and another story, which I hope not to live” (see: https://newizv.ru/article/general/25-12-2019/andrey-movchan-o-zakate-kapitalizma-rynok-kapitala-preobrazuetsya-v-rynok-prav ).

But what is right? A right is a legal expression of economic relations. And what is the economic relationship? Economic relations – the relations of private property = private relations of production = the relations of private appropriation, indirectly ideology, politics and institutions. That is, the economic relationship is indirectly institutional power, the dominant (= common) ideology and the right relations of production between people.

Industrial relations mediated by institutional power over what? Over public production (institutional power over social production) is expressed in the social organization of social production as private production = private appropriation = of private ownership.

What are the main points of the social organization of private production = private appropriation = private property? Main points of this social organization are, first, social classes, and secondly, one of the social classes as the ruling class, the form of which is the state, thirdly, the relationship between social classes, oposredstvovanii fourth, dominant ideologies, government and institutions approved by the government and justify the dominant ideology as universally valid.

Institutions, justified by the dominant ideology, approved and supported by the state as educational institutions, in its practical implementation is nothing but a legal relationship of this social production of the body in them (these relations) legal registration and expression. It is the practical implementation of legal relations is nothing but the legal expression of economic relations, reproducible data public production by the body.

The main condition of social life of economic relations is the division of society into large social group of people who, due to existing in a given society the distribution of the conditions of production differ in their place in social production, the relationship to the means of production, role in the social organization of labor, methods of obtaining and the size of the share of public riches which they possess.

Due to the social organization of social production as private production = private appropriation = private ownership of some large social group of people can actually arrogate to themselves not only the results of labor, but labor all other social groups of people within the public decorated public production of the body.

This social organization assumes as his historical background, which became a public factor of production, as well, and believes (plays) as its organic moments, and the results of specific distribution of conditions of production (means of production, means of subsistence and people) in public units and types of production in the first place. It is this social organization implies also reproduces relations of domination and subordination, and secondly, the relations of exploitation of one social class (and its representatives) other (other) social class (and their representatives), in the third.

But that’s not all. Necessary social condition for the reproduction of the whole social organization with all its assumptions and results is violence and the threat of violence carried out by the state for the reproduction of the established as educational institutions (legal relations) and in it the dominant ideology (ideological relations).

But what is social reproduction in its entirety? It is a reproduction of a specific set of socially organized into a single social productive organism of the people themselves, throughout his life, only his public production of the body. That is, institutional power over the process of social production is their own power over their lives, but she confronts these people as alien to them the power – as standing over them the power of the state and personifying its individuals. These individuals and their power, alien to all others constituting the social labour body, the whole set of people obliged to obey and to obey.

As a result therefore these people can not obey and do not obey alien to them, but standing over them institutional power over the process of social production? People included in the social production of the body, can not obey and do not obey such power because of the need of reproduction of life and the impossibility of such a reproduction in any way otherwise than in the public production of the body.

This necessity and the inevitability of subjection and obedience to such authority is produced and reproduced in the power distribution conditions of production in the public production of the body that exist in this legal relationship, the dominant in him the ideology and the reality of the threat of violence from the state for insubordination and disobedience.

Considered way mediated the relations of production to whom or to what? To the organic nature of a person – to-person (to himself and to others) first, and to its inorganic nature, and second. What is this inorganic nature of man? She is nothing but appropriated by the people through its social production territory of the Earth (with all its resources, used in social production) that feeds the group of people, socially organized in a single public production body. The inorganic nature of man is nursing his (human) territory.

For what take people into productive relationships with each other? For the sake of production means of subsistence and means of production of those means of life, and also for the production of the very means of production of means of production. And about why people engage in these relations of production with each other? They join them on the production (productive consumption), distribution, exchange and consumption (consumer goods), especially those of the means of life, without which life is not possible, and consequently those of the means of production, which only can be made of these tools to life.

Livelihood and means of production collectively form the basis of the brand and much of the total wealth of the society, as if they (the society and public wealth) neither understood nor interpreted in the given social productive organism.

Legal relations as a form of expression of all the relations of private production.

The social organization of social production as private production = private appropriation = private ownership by their social type is the social organization of commodity production even when the production organisms of the livelihood and means of production are not produced as commodities. Relationships of exchange of means of subsistence and means of production between separate production of public organisms in terms of the social division of labour between the public organisms in a relationship of exchange of goods or commodity exchange.

Exchange relations are also relations of production and relations of distribution and relations of consumption. Private production = private appropriation = private property as its necessary social conditions presupposes and then constantly believes in the quality of their organic concerns and the results of, first, the distribution (and redistribution) feeding territories between the direct producers. And, second, private production (private property, private appropriation) suggests and says quite a developed division of labour among the direct producers of means of subsistence and means of production, due, in particular, the distribution of feeding areas.

And this must inevitably followed and, thirdly, the economic (and hence legal) separation from each other of the direct producers of means of subsistence and means of production produced in the framework of the social division of labor. And fourth, all of this also implies the necessity and inevitability of exchange between the producers of the means of life and means of production, which they produce in accordance with the social division of labor among themselves. This exchange is nothing else but the exchange of goods, that is, means of subsistence and means of production, produce goods for their own consumption, but for exchange with other producers.

What is the social form of existence of the direct producers involved in the production and exchange of goods – it doesn’t alter the fact that what they produce for exchange and exchanged the means to life are goods, and their production is commodity production. Whether it is a social production organisms as a whole or separate social units such public organisms or private families or individuals, they participate in the production and exchange of goods if and when their production is linked the social division of labor and economically (and legally) separated from each other.

Nothing changes in the essence and social nature of commodity production and how to participate in commodity exchange the direct producers of the relevant goods directly or indirectly (through these or those of its agents and other intermediaries in the trade between them). As a public form of social organization such agents or Resellers do not change anything in essence and social nature of commodity production in which they perform public functions sales agents or other trading intermediaries.

All of these immediate producers, as well as all Resellers, every act of exchange come into this relationship as private owners of the commodities exchanged, firstly, having equal rights as participants of the exchange act, and secondly, through bargaining which establishes the equivalence of exchange – a fair proportion of exchanging a certain amount of one commodity for a certain quantity of another product, in the third. And finally, fourthly, each of the two parties (each of the two private owners of the goods) involved in the exchange of goods, the results of the exchange receives at least the right of private ownership of the product for its quality and quantity, the receipt of which was his subjective purpose, which he sought to achieve through this exchange.

The right of private ownership of this item in its appropriate quantity and quality due to the right of the requirement of this commodity (the physical seizure of the person at whom it is) at any time, and the right to dispose of these goods on his private outrage at any time. For what purpose, according to a private owner acquired the right of private ownership of goods received in exchange for the alienation of the goods that were his private property, for later consumption or alienation is for the act of exchange, the subject of which was the right of private ownership to it, no meaning.

But, and this is another important point, a necessary condition for the regularity of commodity exchange in General, observance of the formal equality of the parties to the exchange of goods and the equivalence of the exchange, in particular, are state subjects or agents (Resellers) of which are direct parties of every act of exchange of goods. States ultimately are the guarantors, and guards, and arbiters (judges) and court officers in legal disputes between private owners of commodities involved in the exchange, as well as in all other disputes on the right of private ownership of any product.

Thus, the relations of production, being necessary and inevitable posredstvom ideology, government, and institutions are developed in the form of economic relations, and these latter on the surface of social life appear (be manifested) as the relationship legal.

In what way, using what means and techniques are made legal, regulated, protected and are private property rights relevant to them (those rights) the current owners, as well as all legal relations between them by reason of the complete or partial acquisition, alienation of those rights of private property and their use is another question. Namely, it is a question not only specifically historical, but derived from the content of the substance in any way (it’s the merits of the case) does not change, but introducing an additional chain of oposredstvovanii, their social forms and varieties.

Proprietary nature of social relations as a natural consequence of human self-alienation, alienation of his life and the products of labor.

In terms of commodity production the aim of production, obviously, is the production of goods, that is, above all, means of subsistence and means of production and, more broadly, the production of material wealth. People in these social conditions is necessary and inevitable is only a means of production = speaking instrument of production, despite the fact that the social production is the reproduction of people’s lives and social production themselves organisms, organic which include these people.

Not only that, people in these social conditions, being due to them telling instrument of production, and must inevitably appears in the same public form as any other means of production, any other commodity, that is, in corporeal form, or as a commodity. Whether the individual in the legal sense of the thing as a whole, that is, whether the individual is the object of private property as a working cattle, or the object of private property is only the individual’s ability to work is the question of the progressivity of the era of the development of commodity production.

But neither the question itself nor its historical decision in the context of the progressive era of the development of commodity production do not change anything in the essence and social nature of what man refers to himself as a thing, as an object of law and, therefore, as an object of economic relations. The individual refers to themselves as the self, alienated from its generic (common to all humans) entity. This is common to all people of the human spirit and to the individual, and for the separate production of public organisms in their reality no longer exists in any way otherwise than in the form of abstraction.

And the individual, and every unit of social production of the body, and every economically isolated public production body the entire process of social reproduction has been constantly and systematically separated from other individuals, departments, the public organisms and mankind as a whole, is opposed to and confronts all of them as a stranger and alien entities.

As a consequence, every individual must inevitably refers to himself, to all public departments and public production organisms as entities separate from each other and from them a common generic entity. He refers to himself and aggregates all others as to what does not match with each other and opposed to each other as well as diminishing part being separated and isolated from the ever-growing whole, opposed to such a as a stranger and alien to her (this part).

This is the alienation of man from its generic essence. It is constantly reproduced historical background (the result of previous historical development), which has become a necessary social condition, continually reproducible commodity production as a necessary social condition for the implementation of one or another part of human life developed in the form of labour (alienating part of their life as labor), as well as the alienation of the products of labor.

The progressive era of the development of commodity production the historical stage of the transition from the alienation among individuals themselves as things to be alienated by the ability of individuals to work as things. The development of commodity production is also a process of further self-alienation of man from its generic essence to the full logical conclusion of this process in the form of extreme atomization of society and the ultimate dehumanization of man.

This development of commodity production (including the development of treatment products like an organic moment of commodity production) at the same time there is also the development of economic forms, not only alienated human life in its transformed form of labor, but also the alienation of the products of labor until they become public in various forms and types of capital.

Developed commodity production as the development of legal relations.

The legal expression of the development of public forms of economic relations is the development of legal relations in General and the legal relations of private property, in particular. Consequently, the development of commodity production and the development of legal relations in General, and the legal relations of private property in particular. Moreover, due to the natural conversion of products of prior historical development of the necessary social conditions for further development a necessary condition for development and the commodity production, and economic forms as it is (commodity production) the historical development more and more becomes the development of all legal relations in General and the legal relations of private property, in particular.

And this involves the development not only of all legal institutions in General and institutions of private property and property rights, especially, but also legal techniques, means and methods of execution, confirmation and implementation of all varieties of private property rights, institutional regulation of all these processes, to ensure fulfillment of obligations and execution of contracts themselves. This includes the development of the entire system of pre-trial and trial settlement of disputes on all these issues and enforcement of binding decisions on such disputes.

Capital is not only the combination of all economic relations, contributing to the self-expansion of value as the goal of all social production of humanity in General, but the universal form of social life in the developed commodity production. For a developed commodity production is nothing but capitalist manufacture or what is the same, the accumulation of capital as a process (capital) expanded reproduction – smoothstone value.

Money, as the latest economic form arising from the process of circulation of commodities – his (commodity circulation) the latest product, as well and became an independent value, at the same time, is the first form of manifestation of capital. But all the money and the money of the world, in particular, is a universal commodity-equivalent in its real form. Money are also real form of value, which became an independent form of social life – became a form, which is isolated and reproduced as a thing differing from the form of value of all other goods. This real form of social life, cost, become, and reproducible as a self-value became metallic gold in bullion of a certain fineness.

As a consequence, also the capital in all its public forms and types appears to the bourgeois mind, that is on the surface of economic relations, not just as a product in its real form (as a thing or set of things), but as an object of legal relations of private ownership of real objects. But for the consciousness of the bourgeois capital – this is such a real object of any legal relations concerning which require (provide) the obligation to obtain a private owner of capital income, equal to income in any other capital of equal value.

The development of credit generally and through the development of promissory notes circulation in all its varieties, including banknotes (Bank credit bills, which became just a credit cards), stocks and other securities, especially its necessary preconditions and unavoidable consequences had a corresponding development of legal relations. Legal consciousness of the bourgeoisie all these varieties of bills, banknotes, bonds, shares and their derivatives is not perceived as otherwise than titles of rights of claim on the goods or money.

Their appeal is necessary and inevitable perceived bourgeois consciousness as the legal relations concerning distribution and execution of rights and obligations, the burden of risk, liability, etc. between the participants of these relations. This relationship arose from a succession of assignments of private property rights in General on the goods or money, or assignments of individual rights, the requirements of goods or money, and stopped a series of transactions and their execution.

Actually this is how it was formed, and implemented in the economic practice, economic practice was mediated these legal relations with the titles of private property rights on concrete objects (things) and rights of claim to such specific objects of private property. And so on the surface of public life the bourgeois consciousness was not given to economic relations as such, but solely and only the legal relations concerning production, distribution, exchange and consumption of different objects of material wealth.

Absolutely essential produce all these legal relations as a legal expression of economic relations, as well as the reproduction of economic relations themselves as such is a long chain of oposredstvovanii that starts in reality, but for the bourgeois consciousness of his reality ends and the dominant state ideology in it. But this fact bourgeois reality blurred and indistinguishable in the misty distance, far beyond the current horizon of ordinary consciousness. And only a small minority of bourgeois society is theoretically aware that all these legal relations is nothing but the legal expression of economic relations.

The transformation of the capital market in the market of financial rights and its consequences.

Total replacement of money their simulacra as its necessary and inevitable consequence was the transformation of social capital into financial capital in the first place. Second, the necessary inevitable consequence of this was the transformation of the capital market (money and other goods – material form of capital) in the market of financial rights. And, thirdly, the relations of commodity exchange is needed and inevitably turned into the relations of distribution of goods through the simulacra of money. Simulacra of money is the titles of institutional power over the process of social production that are impersonal universal titles, rights of claim on any goods expressed in national units such rights requirements.

Consequently, the simulacra of money is a universal means of distribution and redistribution of all goods within those Nations, where these simulacra of money is publicly recognized as a legitimate currency. However, under current modern conditions of national and international legal institutions simulacra of money, as well as all their derivatives (as expressed by them) “securities” are used in legal relations, respectively, as money is money and as titles, rights of claim on the goods or money and instead of such titles.

Since the purpose of the participation of any individual in economic relations is the expanded reproduction of their own total financial capital in all its varieties, to the extent the purpose of the participation of any individual in any legal relations of modern society is getting increasingly personal “net income” in the form of a corresponding number of units simulacra of money. The same fully applies to any Corporation (households, commercial and non-profit corporations up to the States and inter-state corporations), but with the appropriate changes.

Under these conditions, the production of goods (services and works is a kind of goods) remains a means of obtaining the required number of units simulacra of money only in so far as these simulacra of money is impossible to obtain in other ways. However, the easiest and most efficient way of obtaining them in the required amounts is the direct distribution themselves simulacra of money.

Whether they come in as revenue or as deposits on deposits or as income from their use, or as income securities or as a loan, or borrowed and received in any other way – this being does not change for those who dispose of these simulacra amounts of money. A disposition is, their distribution between the different beneficiaries for further use in different purposes.

But the interest of the distributors simulacra of money is not in their distribution and in raising ever-increasing amounts, the distribution of which is the exclusive right of these individuals. the easiest and Most reliable way of mobilizing the emission themselves simulacra of money, but it is available only for a very narrow group of people.

Credit issue simulacra of money and the issuance of “securities”, but if this issue may be at the expense of attracted funds under the “security” of loans and “securities” available to a wider range of persons from the “professional participants of financial markets”, making decisions on the distribution of simulacra money raised through such issues.

A key condition for “effective mobilization” here, first, is the influence of specific quasi-monopoly on financial intermediation, as a result of which the Corporation is already “too big to let it fail.” It is the guarantee of the growth of “financial pyramids” due to “financial resources” from the emission center and the government (budget) not only on “soft” conditions, but “free”. The growing scale of the activities of a number of “financial pyramids”, each of which has become “too big to let it fail”, it is necessary and inevitably leads to a “lack of liquidity” and thereby demands reduction “fee for the use of borrowed funds,” including the use of “negative rates”.

However, secondly, for the expanded reproduction of any monopoly or quasi-monopoly requires an effective “economy of podmigivania” more and more consumers to the consumption of resources (goods, services, works), exclusive rights to key terms which is just form a corresponding monopoly or quasi-monopoly. At different times in relation to different “resources” are the key and are various conditions, in the absence of which the use of the relevant “resource” is impossible. But only the exclusive right to such key terms provide for the regulation of access to “resources” on the part of those who possesses these exclusive rights – a monopoly or quasi-monopoly, reproducing the “rare resource”, becomes a source of rent from him.

A decisive part in the monopolies (quasi-monopolies) to “manual management” of the definition of simulacra is the third key condition for the mobilization of “income” in a “correct statements”. This is global, regional and national distribution and redistribution of all resources, the change in the shares of the relevant producers and consumers (“operators”) in the world. This leads to the prosperity of some and the ruin of other “operators” of production, distribution and consumption of the relevant resources, not excluding from among them, neither transnational corporations nor the state, nor other commercial and non-profit Corporation, nor the relevant group of households.

Therefore, first effective methods of producing simulacra of money is inherent in the investor, in modern conditions has long been needed and inevitably became subject to increasing and increasingly unpredictable risks of loss of sources of rents, if their preservation is not guaranteed by personal participation in decision-making by relevant organs of institutional power over the economy.

Hence, a natural not only a desire to become a full member of those narrow corporations which carry out the distribution of the simulacra of money by any means to strengthen its status if it cannot be improved. But it also is natural and full expansion of the practice of lobbying of private interests in the relevant bodies of institutional power, including through the corruption of its officials directly involved in decision-making, important for the beneficiaries of lobbying.

In terms of functioning of money in the economy the critical role of higher institutional power over the economy in the whole process of reproduction of life fading in the misty distance over the relevant horizon of everyday bourgeois consciousness. However, in terms of total replacement of money they are simulacra of this decisive role of higher institutional power is necessary and inevitable is becoming more and more obvious to increasing numbers of people.

The inevitable and inescapable consequence of this is the rapid transformation of the antithesis between the relations of distribution, on the one hand, and the productive capacity of society and its development factors, on the other hand, in the continuously escalating conflict material development of production with its social form.

So all that Andrei Movchan predicts how likely future, which he hopes will come only after the end of his life, in fact has already come, even not yesterday or the day before yesterday, and even before the birth of this Movchan.

Vladimir Vasiliev, 25-26 December 2019.

The primary publication is available at: http://www.dal.by/news/178/26-12-19-2/

© 2019, paradox. All rights reserved.

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