Finance capital in Marxian perspective

Abstract

It is claimed that today’s global economy and global capitalism are shaped by finance capital as distinct from industrial capital. This paper is an attempt to decipher the meaning of finance capital in the present context of globalization and also in terms of the relation with what is known today as financialization. Finally, through some empirical facts (with respect to global economy at large and the Indian economy in general) we have tried to relate theory with empirics. The final point which this paper strives to drive home is the fact that the question of finance today can never be delinked from the question of labour. This becomes obvious from the theoretical perspective of capital in general as laid down in Marx’s magnum opus- Capital.