Finance Capital: Rudolf Hilferding: the way Marx expected, Hilferding’s Finance Capital () pointed to the role of banking and finance, arguing that the. Marxian and Non-Marxian Foundations of Rudolf Hilferdings Finance Capital´╝Ő. Jan Greitens. Abstract: Finance Capital, written in by Rudolf Hilferding. Lenin’s concept of finance capital is essentially a derivative from. Hilferding’s, which is a more complex concept. This is not objectionable in itself but critics of.

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It needs a politically powerful state which does not have to take account of the conflicting interests of other states in its commercial policy.

The proportion of income financial companies receive from fees as opposed to interest has expanded greatly in the last thirty years, which may be taken as evidence of a growing rentier logic on their part Guillen, The ideal of peace has lost its lustre, and in place hllferding the idea of humanity there emerges a glorification of the greatness and power of the state.

These efforts become an economic necessity, because every failure to advance reduces the profit and the competitiveness of finance capital, and may finally turn the smaller economic territory into a mere tributary of a larger one. He was born in Viennawhere he received a doctorate having studied medicine.

However, they both refused to leave illegally, because they didn’t have identification papers. In fact, he argues that the banks were among the most vocal advocates of free trade in the US.

Rudolf Hilferding, Finance Capital ()

Click here to sign up. This is an extract from Rudolf Hilferding’s Das Finanzkapital. The mobilization of capital.

At the same time the increasing power of the workers intensifies the efforts of capital to reinforce the power of the state as a bulwark against proletarian demands. Credit is the only way to make use of this idle money.


Thus, they too begin to hate the proletariat and reading between the lines we can see the start of the Marxist explanation for the class roots of fascism. During the whole war, Hilferding remained active in writing and was politically involved.

It hikferding clear-headed and sober in evaluating the real conflicts among capitalist interest groups, and it conceives all politics as a matter of capitalist syndicates either fighting or combining with each other. Mechanisms such as outsourcing and internationalisation appear as competition from a certain perspective i.

She had to defend the revolutionary achievements against continental feudalism; and on the other hand the creation of a new empire of modern capitalism was a threat to the established position which England held on the world market, and so Cpaital was obliged at the same time to contest England’s domination of the world market. Skip to main content. There are a lot of interesting historical asides here.


Giant firms have expanded not just within, but across industries, and they have used mechanisms such as intellectual property rights to create new frontiers of monopoly. He starts by observing how fixed capital investments- which are inclined to rise over time- present obstacles to exit from certain industries. The subordination of individual interests to a higher general interest, which is a prerequisite for every vital social ideology, is thus achieved ; and the state alien to its people is bound together with the nation in unity, while the national idea becomes the driving force of politics.

In summary, cartels may exacerbate disproportionality and hence they are unable to fend off crises- but, they are able to shift the burden of crises onto smaller capitals, ensuring that the process of monopolisation continues.


The new and expanding salaried classes i.

For him this nation fiinance real; it lives in the ever increasing power and greatness of the state, and its enhancement deserves every ounce of his effort. Finally, finance capital needs a state which is strong enough to pursue an expansionist policy and the annexation of new colonies.

Finance Capital

Inhe acquired German citizenship [14] and inhe was appointed to the Reich Economic Council. They have an economic basis, but are then justified ideologically by an extraordinary perversion of the national idea, which no longer recognizes the right of every nation to political self-determination and independence, and ceases to express, with regard to nations, the democratic creed of the equality of all members of the human race. Books for Libraries Press. And ultimately, it produces a change in the attitude of the capitalist class towards state power.

More fundamentally for TEMS, he is also suggesting that as capitalism develops marketization and the regulatory prominence of the price mechanism diminishes- which seems to run counter to some of our guiding assumptions. Crisis and ChangeRoutledge, And even more worryingly from his perspective as a Marxist, this cross border expansion- because it bolsters national capitals and could therefore raise standards for their employees- obscures antagonisms between proletariat and bourgeoisie.

One thing he does do here is expand the idea of disruption in the circulation process, which Marx introduces in Volume II. Articles with German-language external links CS1 maint:

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