The Changing Organisation of Capitalist Production

Marx frequently referred to the ‘laws of centralisation of capital’.

Hilferding analysed ‘finance capital’ as the unification of banking capital with productive capital.

The rise of a ‘managerial class’ to administer other people’s capital, as the owner of capital becomes a mere money-capitalist.

The increasing role of the state with attempts to manage the economy through fiscal & monetary policies.

States also disciplined by international organisations, such as the IMF.

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