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Cover -- Half Title -- Title -- Copyright -- Contents -- Tables and Figures -- Acknowledgments -- Introduction -- 1 What Is the Internationalisation of Capital? -- Internationalisation as a Recent Phenomenon -- Money and Recent Internationalisation -- Conclusion -- 2 National Economies and International Capital: The Economists' Bind -- The Economic Orthodoxy -- A Marxist Agenda of Analysis -- Internationalisation and the National Question -- Conclusion -- 3 Internationalisation, Crisis and Restructuring -- Internationalisation, Accumulation and Crisis -- Crisis in a National Framework -- Restructuring and Recent Internationalisation -- Conclusion -- 4 The Internationalisation of Capital and Marxian Value Theory -- Accumulation and the State in an International Context -- Value on an International Scale -- Conclusion -- 5 The Nation State and the Contradictions of International Capital Movement -- The Minimum Requirements of a Conception of the Nation State: A Reiteration -- Division Between Capitals -- Four Forms of Accumulation -- Alternative Formulations of the Division Between Capitals -- Circuits of Capital and the Nation State -- Conclusion -- 6 Internationalisation and the Contradictions of National Monetary Policy -- Money, Value and the State: A Reiteration -- Contradictions of the Monetary System -- The Contradiction Within Monetary Policy -- The Contradiction Within Monetary Theory -- National Monetary Policy in a Global Context -- Conclusion -- 7 Balance of Payments as Nationalist Accounting -- The System of Accounting -- Capital Mobility and the Balance of Payments -- Conclusion -- 8 The United States Balance of Payments in the Mid 1980s: The National Burden of Global Change -- The Current Account -- The Capital Account -- Capital Inflow, or Just Demand for Dollars? -- Domestic Policy Responses -- Conclusion.

There has been a significant shift in the momentum of national economic policy in Australia, from the market as an end in itself, towards a regulated policy agenda that asserts the social, cultural and economic rule of capital. This 'new' policy is what neo‐liberalism really involves. Arguments about 'free markets' and 'economic rationalism' fail to recognise the shift and are thus not germane to current policy analysis.

The period since the global financial crisis has seen financial derivatives not only grow quantitatively in financial markets but also expand socially as a calculative logic, giving increasing precision to the concept of capital and hence class relations. The logic of derivatives involves deconstructing 'things' into a spectrum of tradable risks. The article identifies the ways in which this logic is spreading into an increasing range of social, economic and political policy domains. It posits how, through the logic of derivatives, a range of sociological issues can be seen and re-thought through the eyes of financial calculus.