Abstract

HUERTA MORENO, Ma. Guadalupe  and  KATO MALDONADO, Luis. Towards the construction of new focuses on globalization and crisis. Prob. Des [online]. 2011, vol.42, n.164, pp.25-53. ISSN 0301-7036.

The present article analyzes the current enormous financial crisis in the light of such concepts as uncertainty, land rent and capital centralization, analytical categories that are not relevant to neoclassical economics but which are present in the functioning of the financial system, linked as it is to the latest stage of financial globalization, in what formed an intermediary network based on financial innovation (in products and processes) where money capital was channeled into speculative operations to the detriment of the real sector. When the speculative bubble burst it opened new areas for economic debate: on the theoretical side, questioning the previous proposals for analysis and the prevention of crises; on practical side, regarding the role of the State in reversing the economic stagnation that resulted from the crisis and in relation to what policies should be implemented in the financial system.

Keywords : Globalization; financial innovations; land rent; profit margin.

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