The basic economic conditions under which financial capital arises and develops. Contrary to Hilferding’s view of financial capital as the result of changes in the capitalist sphere of circulation, Lenin always considered the changes in capital relations in the sphere of production, the concentration of production and the formation of monopolies, as the economic basis for the emergence of financial capital. To illustrate this phenomenon, Lenin did not base himself on individual examples and materials but applied economic statistics and materials from developed capitalist countries all over the world. After analysing and studying these materials, he concluded that “the rise of monopolies, as the result of the concentration of production, is a general and fundamental law of the present stage of development of capitalism”…
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