The 2007-08 credit crisis and the long recession that followed brutally exposed the economic and social costs of financialization. Understanding what lay behind these events, the rise of "fictitious capital" and its opaque logic, is crucial to grasping the social and political conditions under which we live. Yet, for most people, the operations of the financial system remain shrouded in mystery.

In this lucid and compelling book, economist Cedric Durand offers a concise and critical introduction to the world of...