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robertogreco : leverage   2

The Financialization of Capital and the Crisis - Monthly Review [see also: http://links.org.au/node/794]
"radically different economic view...suggests normal path of mature capitalist economies...US, major Western European countries & Japan, is one of stagnation rather than rapid growth. In this perspective, today’s periodic crises...point to serious & growing long-term constraints on capital accumulation." ... "The hard truth of the matter is that the regime of monopoly-finance capital is designed to benefit a tiny group of oligopolists who dominate both production and finance. A relatively small number of individuals and corporations control huge pools of capital and find no other way to continue to make money on the required scale than through a heavy reliance on finance and speculation. This is a deep-seated contradiction intrinsic to the development of capitalism itself. If the goal is to advance the needs of humanity as a whole, the world will sooner or later have to embrace an alternative system. There is no other way."
via:javierarbona  capitalism  corporations  investment  financialization  johnbellamyfoster  banking  finance  crisis  economics  collapse  debt  leverage  capital  class  us  bubbles  greatdepression 
december 2008 by robertogreco

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