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Parasitic Speculative Capital: A Theoretical Precision on Financial Capital, Characteristic of Globalization

  • Reinaldo Antonio Carcanholo
  • Paulo Nakatani
Chapter
Part of the Marx, Engels, and Marxisms book series (MAENMA)

Abstract

In this chapter, Nakatani and Carcanholo analyze the early forms of fictitious capital and apprehend the dual aspects of fictitious wealth which gives rise to significantly distinct forms of speculation. Through this investigation, the authors expose the categories speculative capital and parasitic speculative capital as an unfolding of the fictitious capital. Furthermore, Nakatani and Carcanholo defend the heterodox thesis that contemporary capitalism is distinguished by the process of conversion of industrial capital into speculative capital, and its logic is totally subordinated to speculation and dominated by parasitism. In this way, it is the speculative logic of the capital on its circulation and reproduction in the international space that defines this new stage.

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Reinaldo Antonio Carcanholo
    • 1
  • Paulo Nakatani
    • 1
  1. 1.Department of Economics and Post-Graduate Programme in Social PolicyFederal University of Espírito Santo (UFES)VitóriaBrazil

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