Overview

This book provides an original account of financialisation and outlines the creation of fictitious profits as a basis to describe the present phase of capitalist accumulation in the neoliberal era. Making innovative theoretical elaborations on Marx’s notion of fictitious capital, Financial Speculation and Fictitious Profits offers a dialectic analysis of the increasing financialization during this crisis-ridden period based on the original concepts of fictitious profit and fictitious wealth. Combining the most important research from over twenty years of scholarly inquiry with groundbreaking new studies, Financial Speculation and Fictitious Profits is more than a collection of texts by political economists on a contemporary topic; it is a synthesis of an intense process of academic production that began with work of Karl Marx and has resulted in the formulation of a differentiated interpretative perspective on the contemporary evolution of capitalist crisis. 

Full Product Details

Author:   Gustavo Moura de Cavalcanti Mello ,  Mauricio de Souza Sabadini
Publisher:   Springer Nature Switzerland AG
Imprint:   Springer Nature Switzerland AG
Edition:   1st ed. 2019
Weight:   0.454kg
ISBN:  

9783030233594

ISBN 10:   3030233596
Pages:   215
Publication Date:   08 October 2019
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.

Table of Contents

1.      Chapter 1. Introduction 2.      Chapter 2. The place of money in Marx’s theory of capital             Introduction             Money in Marx's intellectual pathway to capital             The saga of chapter three: money as the antecessor of capital             The category money in Capital             Final considerations 3.      Chapter 3. Speculative Capital And The Dematerialisation Of Money             Introduction             On the concept of parasitic speculative capital             Redundancy, contamination and a new concept             Exaggerated conclusions, speculative capital and fictitious remuneration             On the nature of money             Money and credit money             Credit money and measures of value             Reformulating the thesis             From the simple equivalent to money in Marx             Money and gold 4.      Chapter 4. Crypto-Currencies: From the Fetishism of Gold To Hayek Gold             Introduction             Crypto-currencies             The creation and circulation of Bitcoin             Can bitcoin assume the functions of money in capitalism?                         Measurement of values             Means of circulation             Money itself             Money as capital             The crypto-currencies, their theological mantras and their ideological underpinnings             Final Considerations 5.      Chapter 5. Financialisation and the contradictory unity between the real and financial dimensions of capital accumulation             Introduction             Capital in general and Individual or Private capital             The metamorphoses of capital and its cycles             Social capital and individual capitals             The movement of capital in the 21st century             The State in the dynamics of capital             Final considerations 6.      Chapter 6. Parasitic speculative capital: a theoretical precision on financial capital, characteristic of globalization             Introduction             From the Marxist concept of capital to that of parasitic speculative capital           On Capital           The substantiation of value in capital             Industrial capital and its functional forms             Fictitious capital                         Financial capital                         Parasitic speculative capital             Final considerations 7.      Chapter 7. Profit, interest, rentism and fictitious profit             The vicissitudes of contemporary capitalism and so-called financialisation             Capital as a contradictory totality             Interest-bearing capital, fictitious capital and fictitious profits             Still on rent and its source             On the nature of financialisation and rentier capitalism             Final Considerations 8.      Chapter 8. The nature and the contradictions of the capitalist crisis             Introduction             Overaccumulation of capital, fictitious capital, and parasitic speculative capital             Background             Real capital, fictitious capital and parasitic speculative capital             The recovery of fictitious capital after the crisis of 2007             The effects of parasitic speculation on a world scale             Monetary impacts of the 2007 crisis             The spread of the Dollar in the global credit system             Final considerations  

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Author Information

Gustavo Moura de Cavalcanti Mello is Professor in the Department of Economics and the Post-Graduate Programme in Social Policy at the Federal University of Espírito Santo, Brazil Mauricio de Souza Sabadini is Professor in the Department of Economics and the Post-Graduate Programme in Social Policy at the Federal University of Espírito Santo, Brazil

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