Document Type

Article

Date of Original Version

2011

DOI

10.1108/17422041111103859

Abstract

Purpose – Drawing inspiration from the 1910 book Finanzkapital by Rudolf Hilferding, this paper seeks to explore the nature of financial capital in the early twenty-first century from a political-economic and culture theory perspective. It aims to offer suggestions for transcending the crises-prone contemporary economic systems.

Design/methodology/approach – The paper reconceptualises the notions of Finanzkapital in the contemporary context, drawing selective evidence from current and twentieth century economic and business history.

Findings – The nature of contemporaneous Finanzkapital is elaborated by presenting seven “theses” that probe the nature of Finanzkapital prior to, during, and after the Great Recession of 2007-9.

Originality/value – Through succinct articulation of the major characteristics of contemporary Finanzkapital, the paper suggests some ways to resist and transcend politico-economic and business systems based on massive but quicksand-like foundations of financial capital.

Publisher Statement

This is the author's final manuscript of an article published in volume 7, number 1 of Critical Perspectives on International Business, published by Emerald Group Publishing Limited. The final published version of record is available at http://dx.doi.org/10.1108/17422041111103859.

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