Finance Capital: Rudolf Hilferding: the way Marx expected, Hilferding’s Finance Capital () pointed to the role of banking and finance, arguing that the. Marxian and Non-Marxian Foundations of Rudolf Hilferdings Finance Capital*. Jan Greitens. Abstract: Finance Capital, written in by Rudolf Hilferding. Lenin’s concept of finance capital is essentially a derivative from. Hilferding’s, which is a more complex concept. This is not objectionable in itself but critics of.

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Rudolf Hilferding Finance Capital He published numerous articles in Die Neue Zeit and Kampf. Thanks to his correspondence with Kautsky, he got news hilcerding the party. Hilferding also participated in the “Crises Debate” — disputing Marx’s theory of the instability and eventual breakdown of capitalism on the basis that the concentration of capital is actually stabilizing.

Rudolf Hilferding

The ideal now is to secure for one’s own nation the domination of the world, an aspiration which is as unbounded as the capitalist lust for profit from which it springs. The national idea, which found a natural limit in the constitution of a state based upon the nation, because it recognized the right of all nations to independent existence as states, and hence regarded the frontiers of the state as being determined by the natural boundaries of the nation, is now transformed into the notion of elevating one’s own nation above all others.

While continental liberalism – and this shows a characteristic contrast between ideology and reality – as formulated in classical fashion by the French deduced the theoretical consequences of liberalism in all spheres of political and intellectual life much more boldly and systematically than did its English counterpart, since it came upon the scene later with quite a different body of scientific knowledge, so that it was formulated in a far more comprehensive way, based upon a rationalist philosophy, English liberalism rested essentially upon political economy and its practical realization was subject from the very beginning to definite limitations.

Henceforth, at least in principle, economic life was to be excluded entirely from the sphere of state regulation, and politically the state was to confine itself to the maintenance of public order and the establishment of civil equality. Cartels and monopolies, by inflating their own profits, impede competition and solidify unequal profit rates across industries.


Biographical Dictionary of European Labor Leaders. Is this a swipe at Vince Cable, years in advance?

At first, Hilferding was stationed in Vienna, where he led acpital field hospital for epidemics. He spends some time discussing different types of concentration. A history of child psychoanalysis.

Notes on Rudolf Hilferding’s “Finance Capital” | Charles Umney –

State political power and Finance economic power become eventually the two faces of the same coin. Even the translator of the English edition suggests that this section has not aged particularly well, and it has very dubious relevance to us anyway. He was born in Viennawhere he received a gilferding having studied medicine. In other projects Wikimedia Commons. The unification of industrial, mercantile and banking interests had defused the earlier liberal capitalist demands for the reduction of the economic role of a mercantilist state; instead, finance capital sought a “centralized and privilege-dispensing state”.

She also had a Jewish background, had made her exams at the University of Vienna, and was a regular contributor to Die Neue Zeit. Skip to main content. Retrieved 14 November The new and expanding salaried classes i. By using this site, you agree to the Terms of Use and Privacy Policy. Inhe acquired German citizenship [14] and inhe was appointed to the Reich Flnance Council.

The need to create a national state was bound to make the bourgeoisie from the very beginning a champion of the state. Banking and industrial capital develop a shared phobia of the proletariat. Liberal free trade-ism can therefore be attacked from a number of angles, according to Hilferding.

Thus, because a narrow class dominated the economy, socialist revolution could gain wider support by directly expropriating only from that narrow class. In the struggle against economic mercantilism and political absolutism, the bourgeoisie was the champion of opposition to the state.

Gilferding goes considerably further than Marx himself, in exploring very specifically how the internal dynamics of capital accumulation lead to imperial and colonial conquest. After the attack on France he and Breitscheid fled to unoccupied Marseille. On pagehe suggests that during depressions cartels become harder to organise, and may break apart as members turn on each finwnce.

But in order to hilferdnig these ends, and to maintain and enhance its predominant position, it needs the state which can guarantee its domestic market through a protective tariff policy and facilitate the conquest of foreign hilfsrding. What stupidity to advocate the extension of the rule of law which prevails within nations beyond their frontiers, and what irresponsible interference with business this humanitarian fantasy which has turned workers into a labour problem, invented social reform at home, and hilfegding wants to abolish contract slavery in the colonies, the only possible form, of rational exploitation.


This ideology, however, is completely opposed to that of liberalism. Banks become institutions for clearing and settling cqpital, a technical improvement which… reduces the amount of cash required for settling balances. Hilferding disagreed with the Bolsheviks, led by Lenin, and opposed the October Revolution. Thus, in cartels we hilfwrding see the development of trade wars, as countries escalate competitive tariffs and subsidies.

On 10 AugustRudolf Hilferding was born in Vienna into a prosperous Jewish family, [2] [9] consisting of his parents, Emil Hilferding, a merchant or private servantand Anna Hilferding, and of Rudolf’s younger sister, Maria.

Hilferding’s wife, Margarete, died in the Theresienstadt concentration camp in On the other hand, England’s victory necessarily led industrial capital in continental Europe to support the protective tariff, totally frustrated the advance of economic liberalism, and created the conditions needed for a rapid development of finance capital on the continent.

Until he was also the party’s representative for the Socialist International and his advice was sought by the SPD leadership in exile. He starts by observing how fixed capital investments- which are inclined to rise over time- present obstacles to exit from certain industries. Class antagonisms have disappeared and been transcended in the service of the collectivity.

However, Lapavitsas sees Hilferding hilgerding being closer to the truth than this might suggest.

In JulyBebel recommended Hilferding for this job to the party executive, which agreed to give it to him for six months. During the whole war, Hilferding remained active in writing and was politically involved.

When it invests its capital in a capitalist enterprise the bank becomes a participant in the fortunes of the enterprise; and this participation is all the more hilferdinf the more bank capital is used as fixed capital.