✓ Fictitious Capital: How Finance Is Appropriating Our Future || ✓ PDF Download by ✓ Cédric Durand


  • Title: Fictitious Capital: How Finance Is Appropriating Our Future
  • Author: Cédric Durand
  • ISBN: 9781784787196
  • Page: 134
  • Format: Paperback

  • How finance is a mechanism of social and political domination The turbulence of the financial markets is often explained in terms of the immorality of market agents, misguided economic theory or unsuitable regulation Even when these explanations are not false ones, they leave aside the main problem the nature of financial value Starting out from the concept of fictitiouHow finance is a mechanism of social and political domination The turbulence of the financial markets is often explained in terms of the immorality of market agents, misguided economic theory or unsuitable regulation Even when these explanations are not false ones, they leave aside the main problem the nature of financial value Starting out from the concept of fictitious capital, Cedric Durand argues that finance pre empts future production, appropriating for itself wealth that is yet to be created Using comparative data covering the last four decades, he shows that the rise in private and public debt, the enormous proliferation of financial products, the promotion of the norm that value is created for shareholders, and even public authorities steps to encourage financial stability, all contribute to the same mechanism of social and political domination If at one time the increasing sophistication of finance allowed the masking of the growing disconnect between the exhaustion of the production dynamic and the needs of capital, the 2007 2008 crisis tore away this veil while the hegemony of finance may well be decked out in the liberal finery of the market, each time the markets collapse, fictitious capital turns to the violence of politics.
    Cédric Durand
    Cédric Durand Is a well-known author, some of his books are a fascination for readers like in the Fictitious Capital: How Finance Is Appropriating Our Future book, this is one of the most wanted Cédric Durand author readers around the world.


    Commentaires:

    Daniel Cheng
    In this book, Cedric Durand borrows Marx’s concept of “fictitious capital” from Capital: Volume III to explain the oft discussed contemporary phenomenon of financialization. Fictitious capital encompasses a variety of financial instruments: bank credit, public debt, company bonds, and company stock shares. What all of these have in common is that they are not valuable in and of themselves. Instead, they derive their value from the future profits that they promise to bring. Fictitious capit [...]

    Yngve Skogstad
    French economist Cédric Durand's debut book, now translated into English, is an academic and challenging text, at least for someone not really educated in political economy or economics. So I feel a prefatory disclaimer is in order: there might have been some of the author's arguments and linkages that I did not perceive or properly understand. Hence, I write this review mostly in the form of a summary, mainly as an attempt to recapitulate and better understand the material myself.Fictitious Ca [...]

    Tom
    Three stars indicates my limitations as a reader rather than mediocrity in what was read. I don't read much in economics apart from newspaper articles or other sources of information for general readers. But Durand argues that finance is profit without material backing: there's no there there -- it's a fiction upon which the well-being of nations rests, usually with diminishing returns for most people and a great fiscal enrichment for a tiny percentage of people.

    • ✓ Fictitious Capital: How Finance Is Appropriating Our Future || ✓ PDF Download by ✓ Cédric Durand
      134 Cédric Durand
    • thumbnail Title: ✓ Fictitious Capital: How Finance Is Appropriating Our Future || ✓ PDF Download by ✓ Cédric Durand
      Posted by:Cédric Durand
      Published :2018-08-20T04:25:45+00:00