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Showing posts with the label "fictitious capital"

Finance

"The hegemony of finance—the most fetishized form of wealth—is only maintained by the public authorities’ unconditional support. Left to itself, fictitious capital would collapse; and yet would pull down the whole of our economies in its wake. In truth, finance is a master blackmailer. Financial hegemony dresses up in the liberal trappings of the market, yet captures the old sovereignty of the state all the better to squeeze the body of society to feed its own profits. " (my emphasis) —Cédric Durand, Ficticious Capital , 2017, p. 155