Circulation of capital

Tsavdaroglou, Ch., Petrakos, K. and Makrygianni, V. (2017). The Golden “Salto Mortale” in the Era of Crisis: Primitive Accumulation and Local and Urban Struggle in the Case of Skouries Gold Mining in Greece. City: analysis of urban trends, culture, theory, policy, action, 21(3-4), 428-447.


As formulated by Marx ([1867] 1990. Capital. Vol. I. London: Penguin, 200), ‘the leap taken by value from the body of the commodity into the body of the gold is the commodity’s salto mortale’. Following autonomous Marxist literature (De Angelis 2007. The Beginning of History: Value Struggles and Global Capital. London: Pluto Press; Federici 2011. ‘Feminism and the Politics of the Commons.’ The Commoner, other articles. Accessed January 28, 2017, http://www.commoner.org.uk/?p=113; Hardt and Negri 2009. Commonwealth. Cambridge, MA: Harvard University Press), the circulation of capital could be interrupted by social, class, gender or ecological struggles. In order to unsettle this view, we build on recent critical scholarship on new enclosures, land-grabbing and the permanence of primitive accumulation and we explore the inter-articulation of gold mining projects and neoliberal policies in the era of crisis. In this effort, we examine the case of Greece, a country at the epicenter of the recent financial and social crisis. During the last decade, the Canadian company Eldorado has undertaken a gold mining investment in the environmentally sensitive area of Skouries. A fruitful social struggle has emerged against this project, both in the rural site and in the urban Greek metropolis. Through this examination we investigate how the financial crisis provides an opportunity for multinational mining corporations to expand their zones of exploitation and how social resistance can reclaim common resources.