Metamorphoses of Financial Capital

L. Evstigneeva () and R. Evstigneev ()

Voprosy Ekonomiki, 2013, issue 8

Abstract: Financial capital is considered as a precondition of forming an integral market system. Based on financial capital a vertical market model is taking shape. It includes the following leading markets: strategic markets of financial capital, finance and money markets, markets of physical (cluster) capital, markets of social (consumers) capital. Markets of financial capital build the world reproduction model of synergetic character. Sustainability of the world market is maintained within the framework of the following types of big financial capital systems: cooperation of industrial and banking capital (Hilferding), international banks (Keynes), state monopoly of GDP (well known as far back, as in the USSR period). One can consider this framework as a political form of general equilibrium of the global market. A systemic function of financial capital is gathering power for ensuring endogenous evolution of economy and society on the principles of market self-organization. The authors believe this is the only way out of a deadlock for our economy and society.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2013:id:566

DOI: 10.32609/0042-8736-2013-8-106-122

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