Competition and Cooperation between Financial Capital and Functional Capital in the Era of Financialization: A Theoretical and Empirical Analysis of US Financialization

Zhao, Feng H.; Ma, Shenxiao

doi:10.13169/worlrevipoliecon.10.1.0004

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World Review of Political Economy

Volume 10, Issue 1

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Competition and Cooperation between Financial Capital and Functional Capital in the Era of Financialization: A Theoretical and Empirical Analysis of US Financialization

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research-article

Author(s): Feng Zhao , Shenxiao Ma

Publication date (Print): 1 April 2019

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: financial capital, functional capital, the Capital Circuit Approach, the Class Approach, financialization

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Abstract

Content

Author and article information

Journal

Journal ID (doi): 10.2307/j50005553

Journal ID (jcode): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN: 2042-891X

ISSN: 2042-8928

Publication date (Print): 1 April 2019

Volume: 10

Issue: 1 ( doiID: 10.13169/worlrevipoliecon.10.issue-1 )

Pages: 4-23

Article

Publisher ID: worlrevipoliecon.10.1.0004

DOI: 10.13169/worlrevipoliecon.10.1.0004

SO-VID: 28366eeb-1474-4ebd-a92c-3a04e35237ce

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ScienceOpen disciplines: Political economics

Keywords: financial capital,financialization,the Class Approach,the Capital Circuit Approach,functional capital

References

Bakir, E., and A. Campbell. 2013. “The Financial Rate of Profits: What Is It and How Has It Behaved in the United States.” Review of Radical Political Economics 43 (3): 295-304.
Baran, P., and P. Sweezy. 1977. Monopoly Capital. [In Chinese.] Beijing: The Commercial Press.
Epstein, G. A., and Juliet B. Schor. 1990. “Corporate Profitability as a Determinant of Restrictive Monetary Policy: Estimates for the Postwar United States.” In Political Economy of American Monetary Policy, edited by T. Mayer, 51-63. Cambridge: Cambridge University Press.
Harris, L. 1976. “On Interest, Credit, and Capital.” Economy and Society 5 (2): 145-177.
Harvey, D. 1982. The Limits to Capital. Chicago: The University of Chicago Press.
Hilferding, R. 1997. Finance Capital. [In Chinese.] Translated by M. Fu, et al. Beijing: The Commercial Press.
Itoh, M. 1988. The Basic Theory of Capitalism. London: Macmillan.
Itoh, M., and C. Lapavitsas. 1998. Monetary, Financial and Political Economy. London: Palgrave Macmillan.
Lafargue, P. 1980. “American Trust and Its Economic, Social and Political Significance.” [In Chinese.] International Economic Review, no. 8: 2-7.
Lapavitsas, C. 1997. “Two Approaches to the Concept of Interest-Bearing Capital.” International Journal of Political Economy 27 (1): 85-106.
Lazonick, W., and M. O'Sullivan. 2005. Corporate Governance and Industrial Development. [In Chinese.] Translated by Y. Huang. Beijing: The Posts and Telecom Press.
Lianos, T. 1987. “Marx on the Rate of Interest.” Review of Radical Political Economy 19 (3): 34-55.
Mandel, E. 1983. Late Capitalism. [In Chinese.] Translated by Q. Ma. Harbin: Heilongjiang People's Press.
Marx. K. (1867) 1976. Capital, vol. I. London: Penguin/NLR.
Marx, K. (1885) 1978. Capital, vol. II. London: Penguin/NLR.
Marx, K. (1894) 1981. Capital, vol. III. London: Penguin/NLR.
Moseley, F. 1997. “The Rate of Profit and the Future of Capitalism.” Review of Radical Political Economy 29 (4): 23-41.
Zhao, F. 2010. “Is There a Financial Transformation in Contemporary Capitalist Economies.” [In Chinese.] The Economist, no. 6: 15-23.
Zhao, F., S. Ma, and Z. Feng. 2013. “Financialization and the Crisis of Capitalism: A Review of Post-Keynesian Financialization Theory.” [In Chinese.] Contemporary Economic Research, no. 1: 46-51.

Comments

Comment on this article

[1] Bakir, E., and A. Campbell. 2013. “The Financial Rate of Profits: What Is It and How Has It Behaved in the United States.” Review of Radical Political Economics 43 (3): 295-304.

[2] Baran, P., and P. Sweezy. 1977. Monopoly Capital. [In Chinese.] Beijing: The Commercial Press.

[3] Epstein, G. A., and Juliet B. Schor. 1990. “Corporate Profitability as a Determinant of Restrictive Monetary Policy: Estimates for the Postwar United States.” In Political Economy of American Monetary Policy, edited by T. Mayer, 51-63. Cambridge: Cambridge University Press.

[4] Harris, L. 1976. “On Interest, Credit, and Capital.” Economy and Society 5 (2): 145-177.

[5] Harvey, D. 1982. The Limits to Capital. Chicago: The University of Chicago Press.

[6] Hilferding, R. 1997. Finance Capital. [In Chinese.] Translated by M. Fu, et al. Beijing: The Commercial Press.

[7] Itoh, M. 1988. The Basic Theory of Capitalism. London: Macmillan.

[8] Itoh, M., and C. Lapavitsas. 1998. Monetary, Financial and Political Economy. London: Palgrave Macmillan.

[9] Lafargue, P. 1980. “American Trust and Its Economic, Social and Political Significance.” [In Chinese.] International Economic Review, no. 8: 2-7.

[10] Lapavitsas, C. 1997. “Two Approaches to the Concept of Interest-Bearing Capital.” International Journal of Political Economy 27 (1): 85-106.

[11] Lazonick, W., and M. O'Sullivan. 2005. Corporate Governance and Industrial Development. [In Chinese.] Translated by Y. Huang. Beijing: The Posts and Telecom Press.

[12] Lianos, T. 1987. “Marx on the Rate of Interest.” Review of Radical Political Economy 19 (3): 34-55.

[13] Mandel, E. 1983. Late Capitalism. [In Chinese.] Translated by Q. Ma. Harbin: Heilongjiang People's Press.

[14] Marx. K. (1867) 1976. Capital, vol. I. London: Penguin/NLR.

[15] Marx, K. (1885) 1978. Capital, vol. II. London: Penguin/NLR.

[16] Marx, K. (1894) 1981. Capital, vol. III. London: Penguin/NLR.

[17] Moseley, F. 1997. “The Rate of Profit and the Future of Capitalism.” Review of Radical Political Economy 29 (4): 23-41.

[18] Zhao, F. 2010. “Is There a Financial Transformation in Contemporary Capitalist Economies.” [In Chinese.] The Economist, no. 6: 15-23.

[19] Zhao, F., S. Ma, and Z. Feng. 2013. “Financialization and the Crisis of Capitalism: A Review of Post-Keynesian Financialization Theory.” [In Chinese.] Contemporary Economic Research, no. 1: 46-51.