Financial Capital in the 21st Century: A New Theory of Speculative Capital

Achim Szepanski

Springer Nature, Feb 2, 2022 - Business & Economics - 377 pages

The book’s central theme is to develop a new theory of speculative capital related to other forms of capital, the world market, and the state. Unlike most Marxist and heterodox theories, the book distinguishes credit and fictitious capital from speculative capital to show its hegemony today in the capital markets. Speculative capital structures and also controls the so-called “real capital.” The method is Marxist while also incorporating material from contemporary Marxist and heterodox authors like John Milios, Robert Meister, Tony Norfeld, Li Puma, Harald Strauß, Michael Heinrich, Suhail Malik, Bichler/Nitzan and Ellie Ayache. Offering a comprehensive study of the logic and mode of existence of capital in the 21st century, the book will be of interest to academics and students of monetary and financial economics alongside political economy.

Contents

• 1 Introduction: 1
• 2 Capital: 11
• 3 Credit: 59
• 4 The Category of Capitalisation: 76
• 5 Fictitious Capital: 89
• 6 Speculative Capital: 104
• 7 Private Banks: 179
• 8 The Financial System and the State: 219
• 9 Capital and the World Market: 269
• 10 Technology and Finance: 313
• 11 The Functions of Financial Markets for the Capitalist Economy: 325
• 12 The Financialised Subject of Risk: 337
• 13 Financial System and Crisis: 349
• Index: 366

About the author

Achim Szepanski is the founder of the Electronic Music Labels Force Inc., and Mille Plateaux. His research focuses on speculative capital. His recent publications are Capitalisation 1 & 2, Non-Marxism, Capital and Power in the 21st Century, Imperialism, State-Fascism and the War Machines of Capital, and Ultrabablack of Music. He is the Editor of the online magazine NON.

Bibliographic information

• Title: Financial Capital in the 21st Century: A New Theory of Speculative Capital; Marx, Engels, and Marxisms; Economics and Finance; Economics and Finance (R0)
• Author: Achim Szepanski
• Publisher: Springer Nature, 2022
• ISBN: 303093151X, 9783030931513
• Length: 377 pages
• Subjects: Business & Economics / Economics / General; Business & Economics / Economics / Macroeconomics; Business & Economics / Economics / Theory; Business & Economics / Finance / General; Business & Economics / Industries / General; Business & Economics / Money & Monetary Policy; Political Science / Political Economy