economic globalisation

wdrb at wdrb at
Tue Aug 15 14:15:58 MDT 1995

Rakesh says:

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

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? >

Along with Paul c. i think these questions hit
 some very important nails on the head. And they
have always confused me.

If we distuinguish between finance capital
and industrial capital are we distuingiushing
between people or companies or what. Paul
discusses rentiers like elizabeth windsor
(a rather atypical example) but presumably
rentiers share portfolios cover all forms
of capitalist enterprises. And presumably
all capitalist enterprises still compete to
produce profit. And industrial companies
still struggle to extort surplus value
their variable capital. Is Barclays bank
and Merryll Lynch more important than
Boeing and Toyota?

When people discuss fractions of capital and their cometing
interests I feel uncertain.It seems to me
that one of the characteristics of
capital now is that itss very fluid and
very integrated and very global.

Can we see someone and say..'look, they are a
representative of industrial capital?'

Is 'financial capital' more profitable than
'industrial capital'? When I've looked
at the figures I've never seen this.

Will Brown

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