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The rise of finance makes capitalist exploitation more effective but heav-ily reliant on market liquidity. When the latter evaporates, the whole setting quickly disintegrates. In other words, the demand for more discipline within capitalist power relations makes the economic milieu more vulnerable and fragile. Financial instability in our contemporary societies is the unavoid-able trade-off. In…
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Marx on money: From an analysis of the value-form to a critical understanding of contemporary capitalism 150 years Karl Marx’s “Capital” in Athens January 2017 Video (with english subtitles) here
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Abstract The recent theoretical works of the authors provide thorough insights into the workings of contemporary capitalism. Derivatives are the key issue involved here. They comprehend financialization as a development within, rather than a distortion of, capitalist production. They nevertheless underestimate the ability of Marx’s analytical categories to capture the essence of contemporary organization of…