RETHINKING CAPITAL MOBILITY, RE-REGULATING FINANCIAL MARKETS

In: New political economy, Band 4, Heft 1, S. 55-75

Abstract

THE ARTICLE HAS SHOWN THAT THE SPATIAL MOBILITY OF CAPITAL IS FAR MORE LIMITED THAN IT IS MADE TO APPEAR IN THE POLITICAL RHETORIC OF GLOBALIZATION. AS A CONSEQUENCE, THIS HAS DEMONSTRATED THAT THE STRATEGIC RE-REGULATION OF FINANCIAL MARKETS REMAINS POSSIBLE. BY FOCUSING SUBSEQUENTLY ON THE QUESTION OF THE FUNCTIONAL MOBILITY OF CAPITAL, IT HAS BEEN SHOWN THAT THERE ARE COMPELLING REASONS OF BOTH AN ECONOMIC AND A POLITICAL NATURE, FOR ARGUING THAT THE RE-REGULATION OF FINANCIAL MARKETS IS NOT ONLY POSSIBLE, BUT NECESSARY.