Politics of Public Debt

Daniel Bin is an associate professor at the University of Brasilia. He was a visiting scholar at Yale University and at the University of Wisconsin-Madison. Bin has published on economic policies and their implications for labor and class relations, and more recently on dispossessions of means of subsistence and production.

• Acknowledgements ixPreface xList of Figures xiiIntroduction1The Politics of Financialization 1 Crisis of Accumulation and Reaction of Finance 2 Financial Expansion of the Brazilian Economy 3 Fictitious Capital as a Concrete Social Relation 2Capitalist State and Financial Hegemony 1 Capitalist Economy and Capitalist State 2 Financial Hegemony in the State Apparatus 3 The Class Character of Macroeconomic Policy 3Fiscal Superstructure, Expropriation, and Exploitation 1 The Financialization of Class Exploitation 2 Exploitation beyond Labor Exchange 3 Public Debt, Taxation, and Redistribution of Surpluses 4 Public Debt and the Rise in the Rate of Exploitation 5 State Spending and Appropriation of Income 4Macroeconomic Policy and Economic Democracy 1 Capitalism or Democracy 2 Depoliticization of Economic Policy 3 Selective Bureaucratic Insulation 4 Monetary Expectations and Inducements 5 The Talking Shop of Macroeconomic Policy 6 Economic Democracy and Democratic Socialism Conclusion Afterword: The 2016 Coup d’ÉtatBibliographyIndex