ABSTRACT
This chapter examines the much more severe case of inflation due to the amortization of fixed capital. Born of an inflationary movement, the appropriation of the means of production by firms is the only cause of the dysfunction of fixed capital amortization. The analysis of inflation is given in terms of net investment remains fully valid. However, progress leads to an important discovery: the empty emission characterized by net investment brings to the producers (of the new capital-goods) a monetary capital instead of a monetary income. It is clear however that income holders also have at their disposal positive capital: it is pure capital-time, of which they are effectively the only holders, until the final expenditure of income. Monetary profit is the “counterpart” of saved wage-goods: this is to say that it is the monetary (or financial) capital corresponding to the real capital created in the transfer of wages.
