Credit and profits in a context of financialization

Abstract

The objective of this article is to revisit the classic text of Hilferding with particular focus on the forms of profit generation and the alliances and relationships with other classes and class fractions that form part of the consolidation and growing domination of finance capitalism, which in itself is a fraction of capital. Hilferding is a pioneer in the analysis of the forms in which this fraction of capital obtains its profits and how these modify collective capital accumulation and the forms in which profits and rents are obtained by other proprietary social groups, including several that exist before capitalism. Hilferding's analysis considers twentieth century economies as monetary-credit production economies in which finance capitalism develops. The following pages a offer a reading of Finance Capital from this perspective in order to continue to explain current capitalism and the ongoing global crisis.