Achim Szepanski is the founder of the Electronic Music Labels Force Inc., and Mille Plateaux. His research focuses on speculative capital. His recent publications are Capitalisation 1 & 2, Non-Marxism, Capital and Power in the 21st Century, Imperialism, State-Fascism and the War Machines of Capital, and Ultrabablack of Music. He is the Editor of the online magazine NON.

Chapter 1: Introduction

Chapter 2. Capital

2.1 Commodity, Money, Capital

2.2 Capital and Total Capital: The Quasi-Transcendentality of Capital and the Actualisation-Virtualisation Connection

Chapter 3. Credit

3.1 Credit and Interest-Bearing Capital

Chapter 4. The Category of Capitalisation

Chapter 5. Fictitious Capital

5.1 The General Term of Fictitious Capital

5.2 Bonds and Shares

Chapter 6. Speculative Capital

6.1 Derivatives

Excursus 1: The Black-Scholes Formula

6.2 Securitisation

Excursus 2: Rating Agencies

6.3 Derivatives as Forms of Speculative Capital and Power Technologies

6.4 The Derivative Market

6.5 Heterodox Positions

6.6 Portfolio Theory

Chapter 7. Private Banks

7.1 The Functions of Private Banks

7.2 Creation of Credit by Private Banks

7.3 Leverage

7.4 Investment Banks and Funds

Chapter 8. The Financial System and the State

8.1 The State

8.2 The Function of Central Banks

Chapter 9. Capital and the World Market

9.1 Introduction

9.2 The Export of Commodities

9.3 Capital Export

9.4 The Financial Industry and the World Market

9.5 Imperialism

9.6 The Dollar as Leading Currency

9.7 Global Value Chains and the Global Proletariat

9.8 The Global Proletariat and the Different Zones

Chapter 10. Technology and Finance

Chapter 11. The Functions of Financial Markets for the Capitalist Economy

Chapter 12. The Financialised Subject of Risk

Chapter 13. The Financial System and Crisis