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Finance Capital

Markets, Monopoly and War

A new edition of Rudolf Hilferding's Finance Capital: A Study of the Latest Phase of Capitalist Development has been published in a new translation and with a useful introduction and notes by Tom Bottomore (Routledge and Kegan Paul, £8.95). It provides an opportunity to consider whether the theories advanced by Hilferding and others have been confirmed in the years since the work was first published in 1910.

Bankers Bonus Bonanza

Pigs, fat cats or scapegoats?

Bankers are unpopular. Not the ordinary bank teller or the back-up IT staff, but the directors and top managers who award themselves huge salaries and big bonuses. They are so unpopular, in fact, that the chief executive of Royal Bank of Scotland, Stephen Hester, has been forced to give up a bonus of nearly £1m while his predecessor, Sir Fred Goodwin, has been stripped of his knighthood.

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