Finance led capitalism: An introduction

Abstract

Throughout this article, the concept of Finance Led Capitalism (FLC) functions as a common thread in the structural transformation of global financial operations. The crises that have erupted during the period analyzed in the article have been small bubbles whose manifestations are a part of the much larger present financial crisis. The “systemic crisis”, the “credit crunch”, the ruin of commercial banks and the disappearance of the investment bank attest to the depth of the current crisis. In this panorama, the “lender of last resort” becomes the only mechanism to deal with the crisis, yet despite the privileged position of the United States, the country’s currency is itself part of the problem.