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Finanzkapital in the twenty‐first century

Finanzkapital in the twenty‐first century Purpose – Drawing inspiration from the 1910 book Finanzkapital by Rudolf Hilferding, this paper seeks to explore the nature of financial capital in the early twenty‐first century from a political‐economic and culture theory perspective. It aims to offer suggestions for transcending the crises‐prone contemporary economic systems. Design/methodology/approach – The paper reconceptualises the notions of Finanzkapital in the contemporary context, drawing selective evidence from current and twentieth century economic and business history. Findings – The nature of contemporaneous Finanzkapital is elaborated by presenting seven “theses” that probe the nature of Finanzkapital prior to, during, and after the Great Recession of 2007‐9. Originality/value – Through succinct articulation of the major characteristics of contemporary Finanzkapital, the paper suggests some ways to resist and transcend politico‐economic and business systems based on massive but quicksand‐like foundations of financial capital. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png critical perspectives on international business Emerald Publishing

Finanzkapital in the twenty‐first century

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1742-2043
DOI
10.1108/17422041111103859
Publisher site
See Article on Publisher Site

Abstract

Purpose – Drawing inspiration from the 1910 book Finanzkapital by Rudolf Hilferding, this paper seeks to explore the nature of financial capital in the early twenty‐first century from a political‐economic and culture theory perspective. It aims to offer suggestions for transcending the crises‐prone contemporary economic systems. Design/methodology/approach – The paper reconceptualises the notions of Finanzkapital in the contemporary context, drawing selective evidence from current and twentieth century economic and business history. Findings – The nature of contemporaneous Finanzkapital is elaborated by presenting seven “theses” that probe the nature of Finanzkapital prior to, during, and after the Great Recession of 2007‐9. Originality/value – Through succinct articulation of the major characteristics of contemporary Finanzkapital, the paper suggests some ways to resist and transcend politico‐economic and business systems based on massive but quicksand‐like foundations of financial capital.

Journal

critical perspectives on international businessEmerald Publishing

Published: Feb 1, 2011

Keywords: Financial control; Finance; Marxist economics; Economic depression; Recession

References