The age of unproductive capital : new architectures of power

This book offers a very direct and readable analysis of the main challenges facing our societies today, such as reducing inequality, protecting the planet, and in particular mobilizing our financial resources which linger in tax havens and feed speculation, instead of funding the sustainable development we need. It precisely considers the most important factors, including corporate governance, financialization, capturing political power, and the limits to adequate national economic policies in a world dominated by global finance. The books presentation of how sensible and productive policies are dismantled will be highly interesting for the international community, whether in the academic, corporate or government spheres. Dedication 6 Contents 8 Preface to the English Edition 9 Introduction 12 1 – The dimension of challenges 17 2 – The global corporate control network 34 3 – Corporate governance 45 4 – The decision-making process and the dilution of responsibility 55 5 – Financial systemic oligopoly 61 6 – Tax havens 65 7 – Financial control of commodities 72 8 – The capture of political power 89 9 – Thomas Piketty: production and appropriation 107 10 – Appropriation of social surplus by financial capital 117 11 – The quest of new courses: routes and detours 127 12 – The Brazilian dimension: tbe four engines of the economy 140 13 – Chronology of tbe disaster 171 14 – Overview: recovering system productivity 192 Conclusion 209 Annex: Agenda Outline 216 Glossary 229 References 235