A Political Economy of Contemporary Capitalism and its Crisis

8Financialization as a technology of power

Incorporating risk into the Marxian framework

1 Introduction to the dimension of risk

We shall pick up the thread of our argument from where we left it in the epilogue to the previous chapter. Marx’s analysis in the third volume of Capital is incomplete in the sense that he did not have the chance to finish, edit, and publish his manuscript. More than that, the manuscript itself is far from having the form of a final and revised version. With the analysis of the previous chapter we have reached the apparent limits of Marx’s text on the nature of finance. These limits are related to the content of fictitious capital as a key analytical concept. Nevertheless, these limits must not be seen as explicit ...