Financialisation: fictitious capital and its real impact

Written by: Nick G. on 24 April 2026

A new Party publication addresses the political economy of finance capital. 

Marx analysed the growing separation of capital from the productive economy, calling such investments “fictitious capital”.  Lenin analysed finance capital’s control over industrial capital and the export of capital as one of the characteristics of imperialism. The separation of finance capital from production in the imperialist era has seen a massive growth in fictitious capital in the new financial arenas of derivatives and cryptocurrencies. The publication analyses this and the damaging impact of finance capital in Australian conditions in respect of interest rates, housing and the privatised water market. It concludes that only independence and socialism will break the hold of imperialist finance capital.

The publication is available as a pdf here: Financialisation+2.pdf

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