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Richard Westra’s Theory of Financialization and the Renewal of the Uno–Sekine Approach to the Dialectic of Capital

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  • Jelle Versieren

Abstract

Uno and Sekine considered the early postwar stage as a qualitative divergence from the structural characteristics of capitalism resulting in a gradual ex-capitalist transition. For Westra, the disintegration happens when self-commodified money capital in the money and capital markets disintermediates itself from the value augmentation processes in the production sphere. Westra develops a theory of financialization of globalization distinctive from the post-Keynesian notion of finance-led growth regime or the classical Marxist notion of finance capital.

Suggested Citation

  • Jelle Versieren, 2017. "Richard Westra’s Theory of Financialization and the Renewal of the Uno–Sekine Approach to the Dialectic of Capital," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(4), pages 680-687, December.
    • Handle: RePEc:sae:reorpe:v:49:y:2017:i:4:p:680-687
    DOI: 10.1177/0486613416669341
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    References listed on IDEAS

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    1. Thomas T. Sekine, 1997. "An Outline of the Dialectic of Capital," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37835-3, December.
    2. Thomas T Sekine, 1997. "An Outline of the Dialectic of Capital," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37220-7, December.
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    More about this item

    Keywords

    KÅ zÅ Uno; Thomas Sekine; Richard Westra; financialization; Karl Marx;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • G01 - Financial Economics - - General - - - Financial Crises
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • B30 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - General

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