economic globalisation

jones/bhandari djones at uclink.berkeley.edu
Mon Aug 14 11:35:31 MDT 1995


I have been reading Chris' and Will's posts with interest. If I may, I
would like to pose seemingly unrelated questions.  Many radicals today are
underlining the power of finance  over productive capital.  Indeed this
issue has come up on this list many times.  So some questions:

what is finance capital; is it distinct from banking and industrial
capital; is it to be equated with savings institutions and insurance
companies?

how and why has it become ascendent?

what implications does the power of finance capital have for class struggle?

also, how is finance capital related to the rise of the  explosion of
speculation in various markets and the debt burdens of governments?

I would appreciate any help with these questions, along with reading
suggestions.

Rakesh



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