Agstafa Travel

Agstafa Travel on But the growth of the systemic power of finance and financial engineering is by no means a phenomenon that can be restricted to the latest wave of capitalist transformation. World systems theory has taught us that, financial expansion has been a characteristic phase of historical cycles of accumulation. Arrighi (2007), for instance, identifies financialization as a relatively brief process of speculative expansion that marks the end of an economic cycle and presages FRONTIERS-OF CAPITAL 8l a shift of geo-economic power. The role of finance in the current transmutations of capitalism, however, cannot be isolated in this way. Christian Marazzi (2010, 28) convincingly argues that the financial economy today is pervasive, that is, it spreads across the entire economic cycle, co-existing with it, so to speak, from start to finish. Citing examples such as the use of credit cards in supermarket shopping or the dependency of a large industrial manufacturer like General Motors on credit mechanisms such as leasing and installments, Marazzi proposes that finance has become cosubstantial to the very production of goods and services (29). This should not be taken to imply that the industrial production of goods and services is somehow in decline. Agstafa Travel 2016.

Agstafa Travel Photo Gallery

Maybe You Like Them Too

Leave a Reply

9 + = 10