Financial capital and emerging powers

Abstract

This work makes an interpretation of the course of capital from the rise of the financial fraction to the hegemony of capitalism. The main periods are overflown and some points - not exempt from controversy - are emphasized: # The crisis of 1929/33 was definitively ended by World War II and not only by the New Deal; # The so-called "glorious thirties" in post-war Europe were an exceptional period and not repeatable, because the causes that made it possible are no longer present: the magnitude of the previous destruction and the threat of advancement of communism; # Financial capital uses the cheapness of Asian industrial goods as a battering ram in the struggle for the disciplining of workers in developed countries; # Chinese industrialization has gone beyond the original vision of central capitalism and its emergence as a power is called - along with other emerging Asians - to change in the long term the center of capitalist development and international relations of domination.