Finance Capital: Rudolf Hilferding: the way Marx expected, Hilferding’s Finance Capital () pointed to the role of banking and finance, arguing that the. Marxian and Non-Marxian Foundations of Rudolf Hilferdings Finance Capital*. Jan Greitens. Abstract: Finance Capital, written in by Rudolf Hilferding. Lenin’s concept of finance capital is essentially a derivative from. Hilferding’s, which is a more complex concept. This is not objectionable in itself but critics of.

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Click here to sign up. The old free traders believed in free trade not only as uilferding best economic policy but also as the beginning of an era of peace. On the one hand, Hilferding is suggesting that joint stock companies pursue a more economically rational logic, distinct from the personal caprice of the entrepreneur-capitalist. In hilfedring sense, the stock exchange is a mechanism of totalizing marketization.

In particular, what bothered me reading this was his discussion of finance, monopolies and marketization. Arrighi is more ambivalent, suggesting that while post-War US hegemony was characterised by the strong use of tariffs as well as increasingly integrated organisational forms hilferdng is wrong to explain this in terms of finance capital. At the same time the increasing power of the workers intensifies the efforts of capital to reinforce the power of the state as a bulwark against proletarian demands.

The underdevelopment of joint stock companies in Germany meant bank capital took a more directive role from the start.

Finance Capital

The common action of the nation, united by a common goal of national greatness, has taken the place of class struggle, so dangerous and fruitless for the possessing classes. Inhe gave up his job as a doctor and, following August Bebel ‘s call, [8] started teaching Economics and Economic history at the training center of the SPD in Berlin.

Directly afterwards, he enrolled at the University of Vienna to study medicine. Articles with German-language external links CS1 maint: Less ambiguous criticisms of Hilferding can be found in van Apeldoorn and Horn implicitly and Nowell explicitly.


And, as finance has accelerated this process through administering mergers and acquisitions, it has in some respects also proven a monopolistic force as Hilferding expected.

Skip to main content. Once finance capital has brought the most importance sic branches of production under its control, it is enough for society, through its conscious executive organ — the state conquered by the working class — to finace finance capital in order to gain immediate control of these branches of production.

Lutz Graf Schwerin von Krosigk. Retail giants now hikferding markets to force down the prices charged by producers. Thanks to his correspondence with Kautsky, he got news about the party. Help Center Find new research papers in: It needs a politically powerful state which does not have to take account of the conflicting interests of other states in its commercial policy.

By using this site, you agree to the Terms of Use and Privacy Policy. However, Hugo Radice explains it in fairly straightforward terms: Views Read Edit View history.

It went down well with the congress and a resolution was passed, but the government largely ignored it. He goes considerably further than Marx himself, in exploring very specifically how the internal dynamics of capital accumulation lead hilferdinb imperial and colonial conquest.

While continental liberalism – and this shows a characteristic contrast between ideology and reality – as formulated in classical fashion by the French deduced the theoretical consequences of liberalism in all spheres of political and intellectual life much more boldly and systematically than did its English counterpart, since it came upon the scene later with quite a different body of scientific knowledge, so that it was formulated in a far more comprehensive way, based upon a rationalist philosophy, English liberalism rested essentially upon political economy and its practical realization was subject from the very beginning to definite limitations.


In this sense a fully developed credit system is the antithesis of capitalism, and represents organisation and control as opposed to anarchy.

Biographical Dictionary of European Labor Ifnance. Who’s who in Nazi Germany. Hence, the hilferdihg together of finance capital and the violent subjugation of colonies.

This is a long quote from p Because Britain had the most developed industry and the best access to markets, the reduction of tariffs was entirely in the material interest of British capitalists. From Wikipedia, the free encyclopedia.

Finance Capital

Finance Ministers of Germany. He spent months with this project, which was, in spite of support among the workers, not a priority for the government.

Hilferding wrote articles in the Freiheit and made suggestions how they should be implemented, [37] which were sharply criticized by Lenin. Under monopolised finance capital, vertical integration sweeps the merchant aside. On 10 AugustRudolf Hilferding was born in Vienna into a prosperous Jewish family, [2] [9] consisting of his parents, Emil Hilferding, a merchant or private servantand Anna Hilferding, and of Rudolf’s younger sister, Maria.

Even before hilferdkng school leaving examinations, in he joined a group of Vienna students that weekly discussed socialist literature and later formed with young university teachers the student-organization Freie Vereinigung Sozialistischer Studentenhilferdibg chairman was Max Adler.

They have an economic basis, but are then justified ideologically by an extraordinary perversion of the national idea, which no longer recognizes the right of every nation to political self-determination and independence, and ceases to express, with regard to nations, the democratic hillferding of the equality of all members of the human race.

This can create an incentive to export productive capital i.