Finance Capital Today : Corporations and Banks in the Lasting Global Slump

5a7e548dcbbbf.jpg Author François Chesnais
Isbn 9789004255470
File size 2.61MB
Year 2016
Pages 310
Language English
File format PDF
Category Economics

Book Description:

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."

 

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