In his essay Culture and Finance Capital in The Cultural Turn: Selected Writings on the Postmodern 1983-1998 Frederic Jameson refers to Giovanni Arrighi's The Long Twentieth Century, who he says, shows us, there comes a moment in which the logic of capitalism - faced with the saturation of local and even foreign markets - determines an abandonment of that kind of specific production, along with its factories and trained workforce, and, leaving them behind in ruins, takes its flight to other more profitable ventures. Hence we have the recent shift to finance capital.

Jameson says:

Now this free-floating capital, on its frantic search for more profitable investments (a process prophetically described for the US as long ago as Baran and Sweezy's Monopoly Capital of 1965) will begin to live its life in a new context; no longer in the factories and the spaces of extraction and production, but on the floor of the stock market, jostling for more intense profita­bility, but not as one industry competing with another branch, nor even one productive technology against another more advanced one in the same line of manufacturing, but rather in the form of speculation itself: spectres of value, as Derrida might put it, vying against each other in a vast world-wide disembod­ied phantasmagoria.

might be dramatically heightened, for our own period, by a reminder of the results of the cybernetic 'revolution', the intensification of communi­cations technology to the point at which capital transfers today abolishes space and time and can be virtually instantaneously effectuated from one national zone to another. The results of these lightning-like movements of immense quantities of money around the globe are incalculable, yet already have clearly produced new kinds of political blockage and also new and unrepresentable symptoms in late-capitalist everyday life.