Finance capital today: corporations and banks in the lasting global slump
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Leiden ; Boston
Brill
[2016]
|
| Series: | Historical materialism book series
volume 131 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references and index |
| Physical Description: | XI, 310 Seiten Diagramme |
| ISBN: | 9789004255470 |
Staff View
MARC
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Record in the Search Index
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| adam_text | Titel: Finance capital today
Autor: Chesnais, François
Jahr: 2016
Contents
Acknowledgements ix
List of Figures, Tables, and Boxes x
Introduction i
No End to Crisis in View 2
Finance Capital and Financial Capital 5
The World Economy as an Analytical Aim 10
From the Theory of the Internationalisation of Industrial Capital to
the Theory of Financial Globalisation 12
Financialisation as Díscussed in this Book 14
No Diversion of Profits but the Accumulation of Fictitious
Capital 17
The Crisis in the Sphere of Credit and Money in 2008 19
1 The Historical Setting of the Crisis and Its Original Traits 22
1 The Crisis in a Long-Term Trajectory 24
2 A Crisis Which Has Not Been Allowed to Run Its Course 35
2 Financial Liberalisation and Globalisation from the 1960s onwards and
the Return of Financial Crises 44
1 Industrial Profits and the Eurodollar Market in the Resurgence of
Concentrated Interest-bearing Capital 45
2 The End of the Bretton Woods Monetary System and the Advent of
Floating Exchange Rates 47
3 The Recycling of Petrodollars and the Third World DebtTrap 51
4 The Growth of Government Debt at the Heart of the System 56
5 The Politicai Implications of Market-based Retirement Schemes 56
6 World Money Since the Demise of Bretton Woods 58
7 The Semi-completion of Financial Globalisation and the Financial
Crises of the 1990s 62
Appendix: The Club of Paris and Brady Bonds 64
3 The Notion of Interest-Bearing Capital in the Setting of Present
Centralisation and Concentration of Capital 67
1 Steps in Approaching the Analysis of Financial Profits 68
2 Interest-bearing Capital: Exteriority to Production and the Blurring of
Lines between Profit and Interest 78
3 The Theory of Fictitious Capital 81
VI
CONTENTS
Appendix 1: The Centralisation and Concentration of Capital in Marxist
Theory 88
4 The Organisational Embodiments of Finance Capital and the
Intra-Corporate Division of Surplus Value 93
1 A Brief Historical Perspective on the Bank-Industry Relationship 93
2 Contemporary Issues Regarding Corporate Governance and
Interlocking Boards of Directors 102
3 Banks as Merchants and tnc s as Money Capitalists 109
4 Concentrated Commodity or Merchant Capital and the Sharing Out
of Total Surplus Value U3
5 Natural Resource-based Monopoly Profit and Oil Rent 121
Appendix 1: Control in the eth Zürich Studies 125
Appendix 2: The Three Major New York Investment Banks Activities in
Commodities 128
Appendix 3: Three Examples of Industrial Corporation Ownership of
Financial Corporations 130
5 The Internationalisation of Productive Capital and the Formation of
Global Oligopolies 133
1 The Internationalisation of Productive Capital: Theory and
History 133
2 The Collective Global Monopoly Power of Transnational
Corporations 142
3 The Place of Emerging Countries Corporations in the Global
Oligopoly 148
Appendix: Recent Developments Aifecting the Statistical Data on fd i 154
6 The Operational Modes ofTNCs in the 2000S 158
1 Industrial Capital: From Internationalisation to Globalisation 158
2 Value Chains in Business Management Theory 159
3 Buyer-Driven Global Commodity Chains 161
4 Outsourcing and Offshoring and Global Value Chains in
Manufacturing 163
5 Non-equity Modes of International Productiori 165
6 TNCs and the Present Configurationof World Trade 167
7 Overexploitation and the Global Law of Value 169
7 The Further Globalisation of Financial Assets and Markets and the
Expansion of New Forms of Fictitious Capital 173
1 Factors Underlying the Growth of Global Financial
Transactions 173
CONTENTS
VII
2 The Growth of Global Transactions in Derivatives 181
3 Financial Globalisation and DevelopingCountries in the 2000s 188
8 Financialisation and the Transformation of Banking and Credit 198
1 The Transformation of Banking in the United States 199
2 Financial Liberalisation in Europe and European Universal
Banks 204
3 Securitisation, the Originate-to-distribute Model and the Shadow
Banking System 209
9 Global Financial Contagión and Systemic Crisis in 2008 220
1 Investment Banks and Hedge Funds 220
2 The Channels of International Financial Contagión 232
3 Specific Systemic Vulnerability in the European Banking
System 235
10 Global Endèmic Financial Instability 245
1 The Effects and Potential Backlashes of Quantitative Easing 246
2 The Very Long Continuous Fall in Interest Rates and the Growth
of Debt 247
3 Non-bank Financial Corporations and Systemic Contagión Risks
Today 249
4 The Potential for Financial Turmoil in Emerging Countries 252
Conclusión 256
The Institutional Difficulties of Döing Marxist Economic
Research 256
Persistent Very Low Global Growth Coupled with Endèmic
Financial Instability 258
How Could Slow Growth be Brought to an End and a New Long
Upswing Start? 260
Non-ecological Approaches to Capitalism s Possible Intrinsic
Absolute Limits 264
The Advent of a New More Formidable Immanent Barrier and Its
Implications 267
References 273
Glossaryof Financial Terms 297
Topic Index 302
Index ofNames 307
|
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| spelling | Chesnais, François (DE-588)170057038 aut Finance capital today corporations and banks in the lasting global slump by Francois Chesnais Leiden ; Boston Brill [2016] © 2016 XI, 310 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier Historical materialism book series volume 131 Includes bibliographical references and index Geschichte 1951-2016 gnd rswk-swf Kapitalismus International finance Financial institutions, International Capitalism Financial crises Globalisierung (DE-588)4557997-0 gnd rswk-swf Kapitalismus (DE-588)4029577-1 gnd rswk-swf Finanzkrise (DE-588)7635855-0 gnd rswk-swf Kapitalismus (DE-588)4029577-1 s Globalisierung (DE-588)4557997-0 s Finanzkrise (DE-588)7635855-0 s Geschichte 1951-2016 z DE-188 Erscheint auch als Online-Ausgabe 978-90-04-25548-7 Historical materialism book series volume 131 (DE-604)BV019343535 131 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=029226418&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Chesnais, François Finance capital today corporations and banks in the lasting global slump Historical materialism book series Kapitalismus International finance Financial institutions, International Capitalism Financial crises Globalisierung (DE-588)4557997-0 gnd Kapitalismus (DE-588)4029577-1 gnd Finanzkrise (DE-588)7635855-0 gnd |
| subject_GND | (DE-588)4557997-0 (DE-588)4029577-1 (DE-588)7635855-0 |
| title | Finance capital today corporations and banks in the lasting global slump |
| title_auth | Finance capital today corporations and banks in the lasting global slump |
| title_exact_search | Finance capital today corporations and banks in the lasting global slump |
| title_full | Finance capital today corporations and banks in the lasting global slump by Francois Chesnais |
| title_fullStr | Finance capital today corporations and banks in the lasting global slump by Francois Chesnais |
| title_full_unstemmed | Finance capital today corporations and banks in the lasting global slump by Francois Chesnais |
| title_short | Finance capital today |
| title_sort | finance capital today corporations and banks in the lasting global slump |
| title_sub | corporations and banks in the lasting global slump |
| topic | Kapitalismus International finance Financial institutions, International Capitalism Financial crises Globalisierung (DE-588)4557997-0 gnd Kapitalismus (DE-588)4029577-1 gnd Finanzkrise (DE-588)7635855-0 gnd |
| topic_facet | Kapitalismus International finance Financial institutions, International Capitalism Financial crises Globalisierung Finanzkrise |
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