High finance

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The term high finance refers to a group in the establishment that has amassed political power due to its economic influence and exercises it mainly through private banks . Originally meant was the political influence of financial leaders ( financial oligarchy ) in the first half of the 19th century, during the Restoration of the Bourbons in France and especially under King Ludwig Philip .

The term was just like "Jewish big business " in the era of National Socialism as a battle cry became an integral part of the anti-Semitic propaganda against an alleged Jewish conspiracy ( "Jewish financiers") and is still in the right - as well as left-wing to be found milieus. Since the financial crisis in 2007 in particular , they have been spreading to the public again.

History of terms

Book by Gottfried Feder , 6th edition 1935

Marxism

In Marxism the term financial oligarchy is used for a group of monopoly capitalists who develop out of finance capital under imperialism . This group is not organized, but only connected to one another through common interests in the context of the class struggle .

National Socialism

Terms such as high finance were used in the German-speaking countries from the 1920s and later through Nazi propaganda and were primarily intended to defame Jewish bankers in this context . The Rothschild banking family is best known . The “dictatorship of high finance” is still a key term in the politically right-wing extremist and right-wing extremist scene. According to these ideas, it is an organized group, which is mainly connected by family ties.

Journalism in the Present

Since the financial crisis in 2007, the term has been a popular catchphrase in the media without any specific political statement being associated with it. However, the perspective often focuses on banks based on Wall Street .

Modern historical research

In the 1970s, the economic historian Wolfgang von Stromer made the expression the key term for a research concept from the Middle Ages , especially from Upper Germany and the Staufer period , as well as the Hanseatic League . He examined the special relationships between urban finance and business elites and those in power and decision-makers in imperial politics. Stromer looked at the targeted influencing of political decisions, mostly in the form of loans, to enforce or secure one's own economic interests or to gain and increase power and prestige .

Stromer proved that the Wittelsbacher Ruprecht III. von der Pfalz had carried out his Italian campaign in 1401 with the help of Upper German moneyers who in turn worked with the Medici and other Florentine financiers. European donors had also raised the ransom for Richard the Lionheart . He identifies the beginning of the phenomena of high finance and corruption with the establishment of the money economy in the West from the Second Crusade (1147–1149).

Richard Ehrenberg examined the connections in 1896 for the Swabian family Fugger .

literature

  • Richard Ehrenberg : The Age of the Fugger . 2 volumes. Fischer, Jena 1896, (English edition: Cape, London 1928; reprint 1985: Kelley, Fairfield NJ ISBN 0-678-00015-8 , ( Reprints of economic classics )).
  • Evamaria Engel : Financial Relationships Between Kings and Townsmen from 1250 to 1314 . In: Yearbook for Economic History. JWG 1975, 4, ISSN  0075-2800 , pp. 95-113.
  • Hugo Stehkämper: Money in German royal elections of the 13th century . In: Jürgen Schneider (Ed.): Economic forces and economic routes Festschrift for Hermann Kellenbenz . Volume 1: Mediterranean and Continent . Klett-Cotta, Stuttgart 1978, ISBN 3-12-912620-1 , ( Contributions to Economic History 4), pp. 83-135.
  • Wolfgang von Stromer : Upper German high finance 1350-1450 . Steiner Franz Verlag, Wiesbaden 1970, ( quarterly for social and economic history supplements 55–57, ISSN  0341-0846 ).

Web links

Wiktionary: Hochfinanz  - explanations of meanings, word origins, synonyms, translations

swell

  1. ↑ a b Deutsche Zukunft, (1999) 1, p. 5 and (2000) 8, p. 7 and 18; Werner Bergmann (2005): Anti-Semitism in right-wing extremism , in: Federal Center for Political Education
  2. ↑ Ronald Posch (2016): The language of anti-Semitism , in: Die Presse
  3. ↑ http://www.bpb.de/politik/extremismus/linksextremismus/33604/antisemitismus-von-links?p=all
  4. ↑ a b http://www.n-tv.de/wirtschaft/Die-Kehrseite-der-Wall-Street-article5657656.html
  5. ↑ Bernhard Weidinger (2017): Antisemitism monthly, in: FgA Antisemitismusbericht 2017 : p. 39
  6. ↑ https://www.handelsblatt.com/finanzen/banken-versicherungen/dinner-der-hochfinanz-der-abend-an-dem-ackermann-das-laecheln-gefror/3324724.html
  7. ↑ Ed. Burghard, Haverkamp, ​​Irslinger, Reichert: High finance in the west of the empire 1150–1500 . Trier Historical Research Publishing House, Trier 1996