Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/267901 
Authors: 
Year of Publication: 
2022
Citation: 
[Journal:] Review of Radical Political Economics [ISSN:] 1552-8502 [Volume:] 54 [Issue:] 2 [Publisher:] Sage Publishing [Place:] Thousand Oaks, CA [Year:] 2022 [Pages:] 239-254
Publisher: 
Sage Publishing, Thousand Oaks, CA
Abstract: 
In recent decades, financial securities have become a dominant form of private property, accounting for much of the growth of wealth around the world. But what kind of property are financial securities? What are the sources of the income they provide, and what are the social relations that underlie its flow? This article addresses these questions through the Marxist category of fictitious capital. Focusing on corporate stocks and bonds, the article shows that the social relations expressed in these securities are based on the relation of capital and labor and the exploitation of workers in the sphere of production. It concludes that although the rise of financial securities leaves the basic conflict between capital and labor intact, it opens new strategies within this class struggle.
Subjects: 
Class
Property
Finance
Capital Accumulation
JEL: 
B51
E44
P10
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)
Appears in Collections:

Files in This Item:





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.