The “Systems Rationality” of Financial Capital

2019 ◽  
Vol 22 (1) ◽  
pp. 171-176
Author(s):  
Tony Smith ◽  
Keyword(s):  
Financial Capital ◽  
Systems Rationality

World Economic Crisis and Scenarios of Post-crisis Development: Marxist Analysis

2009 ◽  
pp. 119-132
Author(s):  
A. Buzgalin ◽  
A. Kolganov
Keyword(s):  
State Regulation ◽  
Marxist Theory ◽  
Financial Capital ◽  
Late Capitalism ◽  
World Crisis ◽  
Social Interests ◽  
Marxist Analysis ◽  
World Economic ◽  
First World ◽  
World Economic Crisis

Implications of the modern Marxist theory create the opportunity to show the inevitability, the reasons and the main features of the first world crisis of the XXI century. It has been generated by deregulation of economy, which caused the ‘classical’ crisis of overproduction, and by the new contradictions of late capitalism, in particular, by persistent over-accumulation of capital and by the excessive development of the transactional sector, of the fictitious financial capital and its isolation from the real sector. Marxist analysis of social interests and contradictions shows that anti-crisis measures require not only increasing of state regulation, but also determining on behalf of whom and in the interests of what social groups this regulation will be realized. The authors propose to do this on behalf of the financial capital and in the interests of citizens, but also formulate the neoconservative scenario of post-crisis development.

Reshaping the Economic Structure in Argentina: The Role of External Debt during the Macri Administration (2015–2019)

2021 ◽  
pp. 048661342097642
Author(s):  
Juan E. Santarcángelo ◽  
Juan Manuel Padín
Keyword(s):  
External Debt ◽  
Economic Structure ◽  
The United States ◽  
Jel Classification ◽  
Financial Capital ◽  
Economic Policies ◽  
Right Wing ◽  
Long Term Effects

Argentina’s right-wing shift in the 2015 presidential election concluded twelve years of center-left rule. The elected president, Mauricio Macri, claimed that the economy would experience normalization of existing imbalances and recover its strength in a “new political era.” However, the new administration quickly restored the dominance of neoliberal economic policies through a comprehensive set of initiatives, which centrally included the return to international financial debt and equity markets and submission to the International Monetary Fund’s (IMF) rules. This article analyzes Argentina’s external-debt-growth process and discusses its objectives and long-term effects. This paper posits that the indebtedness process carried out by the Macri administration—and its modality—not only increased the relevance of financial capital in the Argentine economy but also structurally conditioned any future nonorthodox alternative path of development. This outcome cannot be understood without taking into account the deliberate role of the United States, the IMF, and the top companies that operate in Argentina, as well as the complicity of many political sectors. JEL Classification: H63, F34, F63

scholarly journals Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815–2015

2016 ◽  
Vol 106 (5) ◽  
pp. 574-580 ◽  
Author(s):  
Carmen M. Reinhart ◽  
Vincent Reinhart ◽  
Christoph Trebesch
Keyword(s):  
Capital Flows ◽  
Historical Data ◽  
Commodity Prices ◽  
Commodity Price ◽  
Capital Inflows ◽  
Data Sources ◽  
Financial Capital ◽  
Global Capital ◽  
Sovereign Defaults ◽  
Global Cycles

Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date turning points in global capital flows and commodity prices across two centuries and provide estimates from alternative data sources. We then document a strong overlap between the ebb and flow of financial capital, the commodity price super-cycle, and sovereign defaults since 1815. The results have implications for today, as many emerging markets are facing a double bust in capital inflows and commodity prices, making them vulnerable to crises.

Interest Rates and Foreign Capital in Egypt Under British Occupation

1983 ◽  
Vol 43 (4) ◽  
pp. 867-884 ◽  
Author(s):  
Bent Hansen
Keyword(s):  
Interest Rates ◽  
Third World ◽  
Foreign Capital ◽  
Financial Capital ◽  
Archival Studies ◽  
Sharp Decline ◽  
Agricultural Prices ◽  
British Occupation ◽  
Nominal Interest Rates ◽  
Interest Differentials

My archival studies in Egyptian banks reveal that nominal interest rates charged by foreign financial capital in Egypt fell strongly as compared with European rates throughout the period 1882–1914. Interest differentials declined by 2 to 2 ½ percent. This is explained by the increasing confidence of European investors with British occupation and policies. To explain the large inflow of financial capital after 1900 a sharp decline in real interest rates, related to the upsurge of agricultural prices, is posited. The case offers interesting parallels to present-day problems of excessive indebtedness in Third World countries.

Failed Markets

2016 ◽  
Vol 44 (2) ◽  
pp. 38-51 ◽  
Author(s):  
Alfonso Valenzuela Aguilera
Keyword(s):  
Public Policy ◽  
Financial Markets ◽  
Housing Market ◽  
Low Income ◽  
Social Housing ◽  
Financial Capital ◽  
Low Income Population ◽  
The Past ◽  
Politica Publica ◽  
Housing Needs

A confluence between the state, the housing market, and the rationale of financial capital has led to excessive growth of social housing in Mexico in the past two decades. This growth has been one way of channeling excess capital into global financial markets rather than the result of a public policy to address the housing needs of the low-income population. Durante las últimas dos décadas la confluencia entre el estado, el mercado de la vivienda y la lógica del capital financiero ha llevado a un crecimiento excesivo de la vivienda social en México. Este crecimiento ha sido una manera de canalizar el excedente de capital hacia los mercados financieros internacionales en vez del resultado de una política pública para resolver las necesidades de vivienda de la población de bajos ingresos.

scholarly journals Livelihood Improvement through Agroforestry Compared to Conventional Farming System: Evidence from Northern Irrigated Plain, Pakistan

Land ◽  
2021 ◽  
Vol 10 (6) ◽  
pp. 645
Author(s):  
Shahzad Ahmad ◽  
Zhang Caihong ◽  
E. M. B. P. Ekanayake
Keyword(s):  
Social Capital ◽  
International Development ◽  
Natural Capital ◽  
Smallholder Farmers ◽  
Physical Capital ◽  
Financial Capital ◽  
Sustainable Livelihood ◽  
Conventional Farming ◽  
Fuel Wood ◽  
Livelihood Improvement

The concept of sustainable livelihood garnered a prominent status in humanitarian and international development organizations that aim to calculate and build a livelihood for agroforestry farmers. However, it is difficult to measure and analyze as well as visualize the data of livelihood improvement from agroforestry (AF). This paper comparatively assessed 400 smallholder farmers’ livelihood through AF and conventional farming (CF) systems in the Northern Irrigated Plain of Pakistan. The findings showed that AF has a mixed impact on farmers’ livelihood capital, including human, physical, natural, financial and social capital. Specifically, AF significantly improved financial capital in terms of timber, non-timber and fuel wood income. Furthermore, the physical capital (buffalo plough, generators and sprinklers), natural capital (the extent of cultivated land and land ownership; the number of households (HHs) growing vegetables, fruit crops and medicinal crops) and social capital (the number of social groups that HHs involved and number of HHs sharing crop seeds) of AF farmer HHs were significantly improved compared to those of CF farmers. However, the results show that financial capital gain through crop income, HHs owning high-value vehicles (tractors) and farmers trust and collective activities were significantly higher in CF farmers than AF ones. Therefore, to enhance the contribution of AF to rural livelihood, advanced extension services and government involvement on research planning and implementing are needed.

Financial Capital and Startup Survival

2010 ◽  
Author(s):  
Jeongsik Lee ◽  
Wei Zhang
Keyword(s):  
Financial Capital
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