ПРИРОДА ФИНАНСОВОГО КАПИТАЛА В СОВРЕМЕННОЙ РОССИЙСКОЙ ЭКОНОМИКЕ
Authors: Булганина С.Н. , Баркова Е.А. 
Published: February 2025

В статье поставлена проблема специфической природы российского финансового капитала как конкретно-исторического явления. Возникший в процессе приватизации российский финансовый капитал, функционируя преимущественно в форме капитала, приносящего проценты, не выполняет своих «родовых» функций (производство стоимости и обеспечение непрерывности воспроизводственного процесса). Обосновывается положение, что отечественный финансовый капитал не может в полной мере выступить в качестве основы формирующейся в России капиталистической экономики, но при этом определяет направления её развития, оставаясь по сути «ростовщическим» капиталом. Его функционирование обеспечивается за счёт перераспределительного механизма, в процессе которого российский финансовый капитал получает возможность присваивать «некапиталистический доход» в форме политической и спекулятивной ренты. «Некапиталистическая природа» российского финансового капитала ограничивает развитие промышленного капитала отдельными отраслями и секторами экономики (прежде всего, обслуживавшими потребности финансового капитала) и способствует расширению государственного вмешательства в процесс воспроизводства.

Introduction. Instability of financial markets, financial crises in the economy of late capitalism, structural imbalance, sectoral imbalances in Russian economy go back to financial capital - one of the fundamental categories of the capitalist system. The goal of the article is to determine the nature of Russian financial capital and the degree of its maturity as a general form of capital. Tasks: to substantiate the dual nature of financial capital in the modern capitalist economy and demonstrate the features of the origin as well as the nature of Russian financial capital; to reveal the degree of maturity of Russian financial capital as a general form of capital based on the analysis of its functions, to determine its relation to industrial capital. Methodology. The method of dialectical logic reveals the dual nature of financial capital. On the one hand, financial capital is a fused form of industrial, commercial and banking capital. On the other hand, it is the interest-bearing capital (loan capital). In fact, it is both a general form of capital (it replaces the industrial capital in this capacity) and a special functional form of itself (general form of capital or social capital). Research results. The dual nature of financial capital determines the duality of its functions: it is inherent in “generic”, due to its origin (production of value and surplus value, mediation of the realization of value and ensuring the continuity of the reproduction process), and “historically acquired” functions (redistributive and speculative). Thus, embodying the content of special types of capital (industrial, commercial and interest-bearing capital), developing its “generic” functions in them, modern financial capital becomes a general form of capital or “capital in general”. The absence of the prerequisites for Russian financial capital and the presence of overconcentration and centralization of industrial production at the beginning of market transformations determined the specifics of its origin and nature. It creates the prerequisites by itself - loan, industrial capital. Here industrial capital exists as a form of financial capital: it functions in industries, primarily serving the raw materials sector (chemical, petrochemical, oil refining, pipeline transport, car building and sphere of services). Due to its insufficient maturity in this capacity, performance of the role of “capital in general” is limited to individual industries and sectors of the national economy: being concentrated in the raw materials industries, it appropriates the value created by other sectors of the economy, blocking the formation of domestic industrial capital. Conclusion. Russian financial capital expresses the relationship between large corporate structures and other economic entities regarding the appropriation of “non-capitalist income” (political and speculative rent), which reflects its distorted nature. Being an interest-bearing capital in nature, but in a “usurious” form, acquiring the features of state financial capital, it claims to be a general form of capital. In the process of modernizing of Russian economy, it is necessary to take into account the logic of the formation of various forms of capital, corresponding to various stages of capitalism development: their maturation is determined by the logic of the simultaneous formation of industrial and financial capital, both of which as a general form of capital.