“The Financial Power Elite“, (coauthored with Hannah Holleman, Foster listed first), Monthly Review vol. 62, no. 1 (May 2010), pp. 1-19. DOI: 10.14452/MR-062-01-2010-05_1
Has the power of financial interests in U.S. society increased? Has Wall Street’s growing clout affected the U.S. state itself? How is this connected to the present crisis? We will argue that the financialization of U.S. capitalism over the last four decades has been accompanied by a dramatic and probably long-lasting shift in the location of the capitalist class, a growing proportion of which now derives its wealth from finance as opposed to production. This growing dominance of finance can be seen today in the inner corridors of state power.
Translations:
- Spanish translation in Sin Permiso, no. 7, (September 2010), http://www.sinpermiso.info.
- Portuguese translation by PMR
http://www.resistir.info/mreview/financial_power_elite_p.html#notas_1_9. - Translated in Monthly Review, Turkish edition, issue 26 (Istanbul, Turkey: Kalkedon Publications, March 2011).
- French translation in La bréche, (May 2011).
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