Finance capital today [e-book] : corporations and banks in the lasting global slump / by Francois Chesnais.

Format:

Book

Author/Creator:

Chesnais, François, author.

Series:

Historical materialism book series ; Volume 131.

Historical Materialism Book Series, 1570-1522 ; ; Volume 131

Language:

English

Subjects (All):

International finance.

Financial institutions, International.

Capitalism.

Financial crises.

Physical Description:

1 online resource (322 p.)

Place of Publication:

Leiden, [Netherlands] ; Boston, [Massachusetts] : Brill, 2016.

Language Note:

English

Summary:

Finance Capital Today is shortlisted for the The Isaac and Tamara Deutscher Memorial Prize 2017. Finance Capital Today presents a rich new analysis of the specific features of contemporary capitalism, notably its truly global nature and its financialisation, calling on Marxist analyses of the concentration, centralisation and globalisation of capital and Marx’s theory of interest-bearing and fictitious capital. Chesnais shows how financial globalisation and the exponential growth of financial assets have developed alongside the globalisation of productive capital, paying special attention to the contemporary operations of transnational corporations and global oligopoly. He argues that the macroeconomic perspective is one in which large amounts of capital are looking for profitable investment in a setting of underlying overproduction and low profits. The outcome will be low global growth, repeated financial shocks and the growing interconnection between the environmental and economic crises.

Contents:

Preliminary Material

Introduction

1 The Historical Setting of the Crisis and Its Original Traits

2 Financial Liberalisation and Globalisation from the 1960s onwards and the Return of Financial Crises

3 The Notion of Interest-Bearing Capital in the Setting of Present Centralisation and Concentration of Capital

4 The Organisational Embodiments of Finance Capital and the Intra-Corporate Division of Surplus Value

5 The Internationalisation of Productive Capital and the Formation of Global Oligopolies

6 The Operational Modes of tncs in the 2000s

7 The Further Globalisation of Financial Assets and Markets and the Expansion of New Forms of Fictitious Capital

8 Financialisation and the Transformation of Banking and Credit

9 Global Financial Contagion and Systemic Crisis in 2008

10 Global Endemic Financial Instability

Conclusion

References

Glossary of Financial Terms

Topic Index

Index of Names.

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes.

Description based on print version record.

ISBN:

90-04-25548-6

OCLC:

957077845

Publisher Number:

10.1163/9789004255487 DOI