Abstract
The theory of finance capitalism developed by Rudolf Hilferding (1981, originally published in 1910) provides a unique approach for interpreting and evaluating the evolution of world financial markets and the world economy since the collapse of the Bretton Woods system of fixed exchange rates in the early 1970s. The contemporary relevance of Hilferding’s Finance Capital is suggested, for instance, by Sweezy (1994) who argues that the final triumph as well as the political and economic dominance of finance capitalism--only briefly identified a hundred years ago--is a key feature of the contemporary world economy. The analytic power of Hilferding’s contributions to an analysis of present day capitalism is also echoed in Arrighi (1994) who discusses the circumstances under which waves of financial accumulation, such as the one the world economy is currently experiencing, can drive the process of global capital formation.
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Zoninsein, J. (2000). Rudolf Hilferding’s Theory of Finance Capitalism and Today’s World Financial Markets. In: Koslowski, P. (eds) The Theory of Capitalism in the German Economic Tradition. Studies in Economic Ethics and Philosophy. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-04084-3_8
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DOI: https://doi.org/10.1007/978-3-662-04084-3_8
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