On the Crisis of the Crisis: Finance and the Bourgeois State∗

Abstract

There is no crisis in capitalism, from a political standpoint, but a discourse of crisis that has been employed to concentrate more political power with the bourgeoisie while deepening the fusion of (global) capital with an increasingly authoritarian state. This process, simultaneously national and international, has been mostly visible in the development of capitalism in the periphery, as an expression of the development of monopoly capital in general rather than a geographic variant of capitalism specific to the region. Today, to reverse the marxian maxim, the less developed country shows to the country that is more developed the image of its own future.