Labour, Financialization, and Rent in the Construction Industry: Towards a Hybrid Framework of Accumulation

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Notes

1. Bryan et al. (2009) build and expand on Marxist conceptions of labour-as-capital. If labour operates both as a form of commodity capital (this refers to workers’ labour power) and as a kind of variable capital (or the act of putting labour power into action in the process of production), financialization changes this matrix in two ways, Bryan et al. (2009) suggest. First, securitization intensifies the exploitation of labour in production, as it increases competition between different forms of capital. Second, the extension of credit into the realm of the household transforms social reproduction into a source of surplus value extraction through the capture of interest payments (Bryan, Martin, and Rafferty 2009).