The 2070s，Capitalism shows a financial development trend，Finance into the characteristics of the times of contemporary capitalism。With the rise of the financial trend，Herfutting systematically explains the Marxist financial capital，However, its financial capital research has not entered the field of vision of scholars，Even some scholars directly deny their contemporary vitality。Therefore，Whether financial capital has vitality in the contemporary times，It is an important question that Marxist economics needs to answer。On the one hand，The definition and clarification of the concept of financial capital of Hipfa Pavilion，It is one of the theoretical prerequisites for our analysis，Marxism's financial capital theory also needs to stimulate its modernity and the sense of the times through the development of contemporary capitalist finance。1910，Publishing of "Financial Capital" of Higa Pavilion，The study of the second international formal form of capitalist modernity has been pushed to a new realm，He surpassed the perspective of capitalist research that was limited to the topic or country in the past，On the basis of inheriting Marx's general development law of capitalist society，Comprehensive research on the laws of modern capitalist society。Katzki gave a high evaluation of "Financial Capital"，Calling it is the second volume of "Capital"、The real continuing of the third volume。

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The first dimension is the monopoly of bank capital and industrial capital。During the transition period of capitalism to the monopoly stage，The continuous expansion of fixed capital，The averageization of capital liquidity and profit margin is hindered，Therefore，To break the restrictions on new investment，bet365 live casino games The scope of capital gathering needs to be expanded，At the same time as the assembly of industrial capital，Bank capital is also accumulated。Banks borrow capital to borrow capital to different capitalists at the same time，For banks，Bank capital and industrial capital，The trend of excluding competition is the same。The bank has moved to monopoly by joint expansion. It also promotes the monopoly of industrial capital。From the perspective of Hipfa Pavilion，Monopoly is a prerequisite for the formation of financial capital，Leave the monopoly，The ownership and use right of currency capital cannot achieve structural separation，Financial capital cannot surpass industrial capital to become the highest -level capital form。

The second dimension is the integration of bank capital and industrial capital。With Carter、Torlas and other monopoly organizations are increasingly dominated by social economy，Monetary capitalists By lending money to industrial capitalists，Realize the occupation of the remaining value in the form of interest，and through the absolute power of monetary capital to control the control of industrial capital。The bank increases investment in industrial capital through the form of borrowing or share investment，Promoting the development of industrial capital。With the increasing development trend of bank capital and industrial capital，Eventually forming an independent capital form that exists in the form of currency in addition to the capitalist production process，That is financial capital。

The third dimension is the dominant position of bank capital。On the one hand，Banks to control the control of industrial capitalists by increasing or reducing borrowing，Through interest、Dividends or dividends Obtain excess profits of industrial capital。On the other hand，The monopoly of the bank's monetary ownership has prompted it to become the main body of social capital mobilization，Earn bet365 Play online games the difference in profit by issuing stocks for industrial capital。The bank as the owner of the currency capital，The rule of industrial capital through two forms of borrowing capital and virtual capital，Confirm its dominant position。Financial Capital realizes the possession of social production results in the form of bank capital。

The perspective of two -point production and finance is the key to distinguish between monopoly capitalism and free competition capitalism。Herfato Pavilion from the perspective of the integration of the two，Based on the analysis of the negation relationship of financial capital and industrial capital，Realize the definition of financial capital。In his opinion，The two are not the relationship between this is the other，In the era of financial capital，Industrial capital has never disappeared，Instead, it becomes a link of accumulation of financial capital。Capitalism Financial is an inevitable product of capital development。He thinks，The grasp of the inner structure of financial capital must be performed from the dual dimension of productive accumulation and non -biopsy。From the perspective of productive accumulation，Financial capital and industrial economy are inseparable，Financial Capital is indirectly controlled its remaining products and profits in addition to the capitalist production process in the form of monetary capital。From the perspective of non -productive accumulation，Currency capital in the form of a virtual economy，Use speculation and other means to be completely separated from the capitalist production process to achieve capital accumulation，This also reflects the essence of capitalist finance。

Marx on the basis of research on two aspects of borrowing capital and virtual capital，pointed out that financial capital does not create value，Instead of allocating the remaining value，and analyze how the borrowing capital and virtual capital realize money to make bet365 best casino games money。Herfutting is based on Marx's theoretical basis，Established its financial capital theory，Put forward the concept of "entrepreneurial profit"，that is, the dynamic distribution of financial capital in the field of circulation，This is an important point of view of understanding the law of contemporary financial capital。

Swiqi thinks，Financial capital is just a transition stage in the process of capitalism，but Hipfa Pavilion understands it as a permanent trend，This is obviously overwhelming the status of financial capital。Based on this，He proposed to replace financial capital with monopoly capital。Foster thinks，Finance means that capitalism enters the period of monopoly financial capitalism。But he emphasized，His use of financial capital is completely different from the meaning of financial capital referred to in Hifa Pavilion，In a more extensive sense, he defines financial capital as the currency capital of the financial market and speculative activities。In his opinion，Higa Pavilion did not notice the differences between bank -oriented and market -oriented financial capital，Plays a general understanding of the credit relationship between banks and enterprises。La Pavidus thinks，The financial capital of Hefa Pavilion is one -sided，Unable to fully interpret the relationship between industrial capital and bank capital of the 20th century。

　　Monopoly Capital School and Contemporary Capitalist Finance

The 2070s，The main contradictions in the economic field of the monopoly capitalist stage are the contradictions between the sharp growth of the surplus of the economy and the limited absorption capacity of the economy。Monopoly Capital School uses finance as an effective way to solve the problem of economic stagnation，Make the financial capital rise again。Monopoly Capital School inherited the methodology principles of Higa Pavilion to produce two points in production and finance，Just not fusion bet365 best casino games from the two，Instead, study the capitalist economic stagnation and financial stagnation of capitalist economy from the perspective of production and finance.。Foster defines finance as the transformation of the capitalist economy from the field of production to the financial field，and propose capital accumulation with a dual system，That is, the accumulation of capital accumulation and the currency capital accumulation from the production process from the real economy production process，The accumulation of currency capital from the original status of the accumulation of industrial capital，Finally moved to independence。Due to the monopoly capital school, it will be financially understood as virtualization，Therefore, production and finance are absolutely separated。In their opinion，The stagnation of production will inevitably lead to the rapid development of financial melting，The virtual economy in which the real economy and speculative form of the real economy and speculative form are a completely opposed relationship。

In fact，​​This view is one -sided。Because it exists in the era of industrial capital，Provide service for industrial capital，Capitalism enters the monopoly stage，Bank and Industrial Giants are even one，Become a financial giant rule and dominate SME。The expansion of the virtual economy has a serious impact on the production of the real economy，At the same time, it also covers the dimension of the product accumulation of financial capital。Monopoly Capital Party Finance The reason why the face understanding is that its theory focuses on the circulation process of capitalism。They are just looking for a way to absorb the rest of the economy，and lack of thinking about the remaining process。Therefore，They think，The law of Marx's profit margin is no longer applicable to monopoly capitalist stage，Instead, it will be the law of economic surplus rising。

The formation of capitalist bet365 best casino games finance in the West is a long process，In the 19th century, there was a period of discrepancies，Capital always wants to make money through non -production process。The late 19th century and early 20th century，Capitalist financial melting from periodic to structural characteristics，Form its unique capital accumulation structure。The 2070s，The normal state of the stagnation of production has caused capitalist financial melting to rise again。But，Monopoly Capital School has never sorted out the development context of capitalist finance，I also rarely follow the changes in the accumulation of financial capital，Not even defining the ontology of the concept of financial capital。The definition of the concept of financial capital in the sense of this body is the primary problem of understanding and financialization。In this sense,，The research of Higa Pavilion's financial capital constitutes the theoretical basis of financial research。Through the interpretation of Higa Pavilion Financial Capital，We can see，On the basis of the dual capital accumulation method of the real economy and virtual economy of financial capital，Only to truly understand the inner structure of financial capital，This is the theoretical basis for building capitalist finance。

Because the monopoly capital school does not grasp the connotation and contradiction of financial capital from the level of the body theory，Therefore, it is impossible to reveal the historical necessity of the highest form of financial capital as the highest form of capital form evolution，It is not possible to understand financial melt from the history of financial capital。Therefore，They cannot develop Marxist financial capital theory into a finance economy、The world system that integrates politics and international relations。To achieve this goal，We will start from Marxist financial capital theory，Deepen the Financial Finance of Contemporary Bet365 app download Capitalist，At the same time, it also needs to be through the development of contemporary capitalist finance，The modernity and sense of the times inspired by Marxist financial capital theory。

(This article is the major project of the National Social Science Foundation "Syndrome and Research on the History of Chinese Marxist Philosophy" (21&ZD047) Staged results)

(Author Unit: Department of Philosophy at Peking University)