Overview

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.

Full Product Details

Author:   Achim Szepanski
Publisher:   Springer Nature Switzerland AG
Imprint:   Springer Nature Switzerland AG
Edition:   1st ed. 2022
Weight:   0.516kg
ISBN:  

9783030931537

ISBN 10:   3030931536
Pages:   377
Publication Date:   04 February 2023
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.
Language:   English

Table of Contents

Chapter 1: IntroductionChapter 2. Capital  2.1 Commodity, Money, Capital 2.2 Capital and Total Capital: The Quasi-Transcendentality of Capital and the Actualisation-Virtualisation Connection Chapter 3. Credit 3.1 Credit and Interest-Bearing Capital Chapter 4. The Category of Capitalisation Chapter 5. Fictitious Capital             5.1 The General Term of Fictitious Capital             5.2 Bonds and Shares Chapter 6. Speculative Capital             6.1 Derivatives Excursus 1: The Black-Scholes Formula 6.2 Securitisation Excursus 2: Rating Agencies 6.3 Derivatives as Forms of Speculative Capital and Power Technologies 6.4 The Derivative Market 6.5 Heterodox Positions 6.6 Portfolio Theory Chapter 7. Private Banks             7.1 The Functions of Private Banks             7.2 Creation of Credit by Private Banks             7.3 Leverage             7.4 Investment Banks and Funds Chapter 8. The Financial System and the State 8.1 The State 8.2 The Function of Central Banks Chapter 9. Capital and the World Market 9.1 Introduction             9.2 The Export of Commodities             9.3 Capital Export 9.4 The Financial Industry and the World Market 9.5 Imperialism 9.6 The Dollar as Leading Currency 9.7 Global Value Chains and the Global Proletariat 9.8 The Global Proletariat and the Different Zones Chapter 10. Technology and Finance Chapter 11. The Functions of Financial Markets for the Capitalist Economy Chapter 12. The Financialised Subject of Risk Chapter 13. The Financial System and Crisis

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Author Information

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.

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