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Michael Hudson argues that a new form of financial capitalism has displaced the industrial capitalism of Marx's day. Unlike earlier capitalists, whose pursuit of lower costs led to improvements in the organization of production, the typical wealth owner today is a passive rentier who, like a feudal landlord, merely claims the surplus from existing production processes. Some form of this vision of financialization is widely held, but, I argue, misleading. It exaggerates the differences between historical and present-day capitalism, and misses the ways in which "finance" and "industry" form complementary parts of a single process.JEL classification: B51, E44, N20

Objective. This paper describes & explains the presence of various strategies used by party leaders in the US House of Representatives to increase cohesion among members of the majority party. Methods. Logistic regression analysis is performed on assignments to the most prestigious committees from the 95th through the 104th Congresses. Results. Leaders are likely to reward loyal members, to favor no ideological wing of the majority party, & to protect -- on occasion -- the vulnerable members of the caucus. Conclusions. The implementation of these strategies varies according to short-term changes in the institutional context of the majority party. 2 Tables, 2 Figures, 22 References. Adapted from the source document.