Neoliberalism and the recomposition of Finance Capital in Canada*

• Main Authors: William K Carroll, There Is
• Other Authors: The Pennsylvania State University CiteSeerX Archives
• Format: Text
• Language: English
• Subjects: Canada; North Atlantic; Rentier
• Online Access: http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.599.326; http://www.cseweb.greennet.org.uk/pdfs/038/038_081.pdf

it would seem, a complex relationship between advanced capitalist regimes of accumulation and the structuring of finance capital within specific 'business systems '. Aglietta (1979, 253) has observed that the development of Fordism was predicated upon a process of concentration and centralization which gave rise to the predominant forms of modern business organization- the large corporations and the financial groups within which 'coalitions of capitalists. wield the weapon of financial centralization to their own advantage '. In turn, as Van der PijI (1984) has noted, the consolidation of a North Atlantic Fordism brought changes to the structure of finance capital, as banking and rentier interests were subordinated to productive capital and as the state-monopoly capital-ist tendency associated with classical imperialism gave way to the corporate liberalism of Pax Americana. The crisis of Fordism has likewise invoked a restructuring of finance capital, both at the level of concrete financial groups and in terms of the broader arrangements which give shape to the circuit of finance capital In this paper I examine the most recent of these changes as they have developed within Canada, and consider some implications for * This article has benefited from comments by Daniel Drache, Warren Magnusson and by participants in the After the Crisis seminar at the