The tyranny of monopoly-finance capital : a Chinese perspective
Monthly Review Foundation
State Repression, Stagnation, Political Economy, Movements
Since the 1980s, economic growth in the core capitalist countries has been driven by an enormous expansion of financial capital, accompanied by steady deindustrialization. In recent years, the monopoly power of this financial capital has displayed increasingly tyrannical characteristics: it depends for its continued growth on ever-increasing indebtedness and dependence in developing nations, widening the divide between rich and poor and ultimately fostering state violence that serves to suppress popular resistance.… [Today,] military and monetary strength work together to profit from inequality and instability in emerging economies.
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Sit, T., Wong, E., Lau, K.-C. & Wen, T. (2017). The tyranny of monopoly-finance capital: A Chinese perspective. Monthly Review, 68(9), 29-42. doi: 10.14452/MR-068-09-2017-02_4