Crisis and Fictitious Capital

Rosa Maria Marques and Paulo Nakatani

A chapter in Value, Money, Profit, and Capital Today, 2023, vol. 39, pp 215-229 from Emerald Group Publishing Limited

Abstract: This text analyzes the relationship between crises and the dominance of interest-bearing capital, with particular emphasis on fictitious capital, which forms a striking feature of contemporary capitalist economies. It discusses how capitalist crises are commonly viewed and how we should understand them, on several dimensions of reality, based on a comprehensive reading of Marx. We follow with a reflection on the nature and characteristics of interest-bearing capital and on fictitious capital and fictitious profit, given that the high activity of this last form of capital is a hallmark of current capitalism and is itself the maximum expression of the fetishism engendered by it. We conclude that what is understood as a crisis by people in general is, in fact, a source of enormous enrichment for the owners of fictitious capital.

Keywords: Capitalism; capitalist crisis; profit; interest-bearing capital; fictitious capital; fetishism (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rpeczz:s0161-723020230000039013

DOI: 10.1108/S0161-723020230000039013

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