The Age of Monopoly-Finance Capital
Bibliographic Data
| ID | 22744729 |
|---|---|
| Authors | John Bellamy Foster (0000-0001-7418-3004, corresponding author) |
| Year | 2010 |
| Volume | 61 |
| Issue | 9 |
| Pages | 1 |
| Publication date | 2010-02-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Monthly Review (JOURNAL) |
| Journal identifiers | ISSN: 0027-0520 • E-ISSN: 0027-0520 |
| Publisher | Monthly Review Foundation (PUBLISHER) |
| DOI | 10.14452/mr-061-09-2010-02_1 |
| OpenAlex | W2048921893 |
| Language | EN |
| Citations received | 12 |
Three years ago, in December 2006, I wrote an article for Monthly Review entitled "Monopoly-Finance Capital." The occasion was the anniversary of Paul Baran and Paul Sweezy's Monopoly Capital, published four decades earlier in 1966....The article...[discussed] "the dual reality" of stagnant growth (or stagnation) and financialization, characterizing the advanced economies in this phase of capitalism. I concluded that this pointed to two possibilities: (1) a major financial and economic crisis in the form of "global debt meltdown and debt-deflation," and (2) a prolongation of the symbiotic stagnation-financialization relationship of monopoly-finance capital. In fact, what we have experienced in the last two years, I would argue, is each of these sequentially: the worst financial-economic crisis since the 1930s, and then the system endeavoring to right itself by returning to financialization as its normal means of countering stagnation. It is thus doubly clear today that we are in a new phase of capitalism. In what follows, I shall attempt to outline the logic of this argument, as it evolved out of the work of Baran, Sweezy, and Harry Magdoff in particular, and how it relates to our present economic and social predicament.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
Argument (complex analysis) · Capital (architecture) · Capitalism · Debt · Deflation · Economic history · Economic stagnation · Economics · Financial capital · Financial crisis · Financialization · Keynesian economics · Market economy · Monetary policy · Monopoly · Neoclassical economics · Political economy · Political science · Politics · Economic Theory and Policy · Finance · History · Housing, Finance, and Neoliberalism · Law · Political Economy and Marxism
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Does the Modernization of Environmental Enforcement Reduce Toxic Releases? An Examination of Self-policing, Criminal Prosecutions, and Toxic Releases in the United States, 1988-2014
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Imperialism and Primitive Accumulation
The Classical Agrarian Question
Introduction
| Unique citing works | 12 |
|---|---|
| Citations per year | 0.8 |
| Citation span | 2011 - 2025 (15) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 9 |