Finanzkapital in the Twenty-First Century
University of Rhode Island
October 15, 2010
Critical Perspectives on International Business, Vol. 7, No. 1, pp. 90-108
Drawing inspiration from the 1910 book Finanzkapital by Rudolf Hilferding, this paper explores the nature of financial capital in early 21st century from a political-economic and culture theory perspective. It offers suggestions for transcending the crises-prone contemporary economic systems. The paper reconceptualises the notions of Finanzkapital in the contemporary context, drawing selective evidence from current and 20th century economic and business history. 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. 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.
Number of Pages in PDF File: 33
Date posted: October 17, 2010 ; Last revised: March 30, 2012