Titlebook: Capitalism in the Age of Catastrophe; The Newest Developme Achim Szepanski Book 2024 The Editor(s) (if applicable) and The Author(s), under

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2523-8108 ment of capitalist hegemony.Critically examines the impact o.This book analyses contemporary and future conditions of global finance and capitalism in an age of catastrophe. It illuminates the links between various crises that have beset the world economy in recent decades and sets these in philosop

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The Ecstatic of the Excess in Bataille, Baudrillard, and Marx,cstatic excesses of increase: Too much capital, but also too many images and too many signs that neutralise any historical sense and exercise a white censorship through excess. This kind of simulation through excessive reality overload, which in turn can lead to a denial of reality, entails a new es

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The Hypertrophy of the ,: Speculative Capital and Derivatives,economy; conversely, it is the financial economy that structures the real economy. The metaphor “central nervous system of capital” refers to the financial constellation of capitalist economies. If the capital principle is the energetic engine of the breathing capital monster, then the financial sys

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,Financial Capital: Leverage Power and Financial Infrastructure,ayment systems firms is what enables systemic creation, that is, the production and circulation of financial claims and promises to pay. Infrastructural power is exercised by those actors who do not own monetary claims themselves, but who provide various services and infrastructural services so that

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The Financial Crisis as a Temporal Crash of the ,emand increases; these derivatives then serve as collateral for further borrowing, setting in motion a feedback loop in which, in a double movement, credit spurs asset creation and assets as collateral further mobilize credit. In the illusion of perpetual liquidity expansion, the leverage of capital

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Central Banks as Crisis Actors of the Over,to the shadow banking system..The central bank must today create market liquidity and funding liquidity by issuing purchase commitments and must, therefore, take care of the insolvency risks of the shadow banking system as well. Central banks now act as traders in financial markets themselves, buyin