How finance is a mechanism of social and political domination
Cedric Durand teaches economics and development theories at the University of Paris 13 and the EHESS. Working within the tradition of Marxist and French Regulationist political economy, he is the author of several articles on the Euro-crisis, the financialization-globalization nexus and the post-Soviet transformation. He is a member of the editorial board of the radical online journal ContreTemps.
Cedric Durand is among the most promising of young French
university economists today. We awaited the publication of his new
book with bated breath. It was worth the wait. Fictitious
Capital is an important intervention which tries to make sense
of the excesses of capitalism over the last forty years and of the
development of finance. -- Jacques Sapir
Durand has provided a very insightful view of finance-driven
capitalism over the last three decades. Why was it able to prosper
alongside sagging investment and plummeting productivity gains? The
answer, argues Durand, lies in the tight connection between the
shareholder value principle and the globalization of the real
economy. -- Michel Aglietta
Fictitious Capital: How Finance is Appropriating Our Future
by Cedric Durand is a fascinating and extremely informative
exploration of the destructive role of finance in our contemporary
political economy. Filled with brilliant insights and an impressive
historical and theoretical reach, Durand explains and utilizes
Marx's concept of "fictitious capital" to illuminate the inner
workings of contemporary global capitalism and to pierce the murky
veil that mainstream economics and neo-liberal thought has long
used to hide and distort the powerful role of finance. Students
trying to understand the precarious political and economic position
in which we find ourselves, as well as the theoretical foundations
for understanding this, will learn much from this well-written,
data rich, and theoretically clear exposition. If you read this
terrific book, you will come away well-armed for the struggle
ahead. -- Gerald Epstein
|
Ask a Question About this Product More... |
|
