Dialectics of Finance: The Crisis Continues

Wednesday, June 4, 2008

The Crisis Continues

It is about 7:00 am here in New York. I am going to watch the shares of Lehman Brothers. And keep watching in coming days. Let us see how this thing will play out in light of the precarious condition of the broker/dealers that I described in Credit Woes series.

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Speculative Capital

Speculative Capital is the exposition of the theory of speculative capital, the latest form of finance capital that has come to dominate the financial and capital markets in the US and, from there, other industrialized countries and emerging markets.

Speculative capital is an expanding force, its influence permeating economic relations—and beyond. It is not possible to understand the changes taking place around us without knowing speculative capital and the laws of its movement.

Vols. 1, 2 and 3 of Speculative Capital have covered the rise of speculative capital, its impact on markets and the way it commoditizes "credit" for the purpose of trading and arbitrage. Vol. 4, Systemic Risk, is in the works. It will be followed, time and circumstances permitting, by the final volume, Dialectics of Finance.