[Marxism] Imperialism and profitability at Lille | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Mon Jul 8 05:46:20 MDT 2019

The word Financialisation once again dominated many sessions.  Readers 
of this blog will know that I am very sceptical about whether this 
concept adds much to our understanding of modern capitalist trends; 
indeed it may even confuse on many issues.  Does it simply mean that the 
financial sector has grown in importance quantitatively in the structure 
of capitalism in the 21st century; or does it mean much more; that 
capitalism has entered a fundamentally new stage in the capitalist mode 
of production?  Those who push financialisation seem to be in the latter 
camp:  finance is where we must look for the key faultlines in capital 
and not in capital overall.  If so, I disagree.  But whatever it is, 
‘financialisation’ seems to dominate the research of many radical scholars.


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