The evolution of money as a point of the evolution of financial capital

Abstract

Contemporary state of financial market, which acts in destabilizing way on the mechanism of capital reproduction, requires the theoretical understanding of the causes of this situation. The author approaches to the solution of this task from the position of Marxist theory of money and capital, considering the development of monetary economy under the capitalism as a consequence of the development of financial capital. Contemporary stage of this development is characterized as involution (“back” evolution, dissolution of fundamental relations or even degeneration). Both financial capital and monetary system in the conditions of late capitalism cannot exist without including into themselves the elements, which are contradicting the basis of capitalist system, but compensating the consequences of its decay.