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اقتصاد::
سرمایه نقدی
It is the money-capital of capitalism and that drives the endless pursuit of profit and gives the system its dynamism and flexibility; in short, the creation and control of money-capital is the locus of power in capitalism.
By abandoning the control of money-capital flows - that is, 'deregulating' its capital market - the USA was able to attract for- eign finance to fund its mounting deficits brought on by domestic expenditure and the war in Viet- nam.
There are no clear and agreed explanations for these patterns, but there is reason to believe that they are, to a large degree, directly and indirectly a consequence of 'financialization' and the growing power of global money-capital.
And this renewed dominance of money-capital has reinforced the downward pressure on wages in order to increase profits and extract 'shareholder value' (see chapter 6).
Second, there has been a shift towards the use of stock-market finance and a marked increase in the intrusion of hostile takeovers and mergers, often orchestrated by the highly mobile money-capital of Anglo-US in- vestment banks and private equity funds (see Schmidt 2002 for a comparison with Germany).
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