Such is the history of the rise of finance capital and such is the content of that concept. In such a situation, the banks can not remain far behind speculation.
The extraordinary rise of monopoly makes it possible for the bankers to lay hands on speculation in land situated in the suburbs of rapidly growing big towns as it provides with a very profitable operation for finance capital. The bankers often act from behind the scene through holding system.
The paradoxical, yet historically necessary and natural situation, from the point of view of the bourgeois that arises due to such a development of bank capital is that "a steadily increasing proportion of capital in industry ceases to belong to industrialists who employ it. They obtain the use of it only through the medium of the banks which, in relation to them, represent the owners of the capital. On the other hand, the bank is forced to sink an increasing amount of its fund in industry.
Thus, to an ever greater degree the banker is being transformed into industrial capitalist." And thus is the bank capital, the capital in the money form, transformed into industrial capital. But this industrial capital is not that simple industrial capital as usual, it is Finance Capital i.e. a capital that has its origin in the coalescence of bank and industrial capital which itself took place under the condition of ever-increasing concentration of production that finally led to monopoly.
Now what is this financial oligarchy all about and how does it work? What is its importance in the overall structure of industrial building up so that it plays so important a role in the characterizations of imperialism? What is the impact of unemployment overall on society?
- Location:Delhi
- Mood:awake
