The Transition from Industrial Capital to Finance Capital

This chapter examines the shift from industrial capital to finance capital in American politics and the dominance of finance capital in the 70s. It explores the emergence of conglomerates, the leveraged buyout craze of the 80s, and the brain drain towards finance. The chapter also discusses the impact of financial innovation on the economy, inflation's privatization in the finance sector, and the consequences of individual elites competing for profit.