The financial institutionality

Abstract

The aim of the paper is to briefly review the historical process that results in the present day prominence of finance capital avoiding the short term bias that has characterized much of current literature. For that purpose it reaches back to some of the major XIX century authors such as Marx and Hilferding – as well as, in a lesser degree, to Hobson, Veblen, Berle and Means – in an attempt to bridge the theoretical gap between these analysis and the current economic events.