Спекулятивный доход и спекулятивный капитал

Наука и практика. Научно-аналитический журнал РЭУ им. Г.В. Плеханова. 2021. № 1 (41). С. 10–21.

Галанов В. А., Galanova A.

Capital employed in the production and sale of goods brings profit. Loan capital brings interest and dividends, i.e. only part of the profit. Capital that specializes in short-term circulation of stocks and other profitable securities is a speculative capital that generates income in the form of price differences, or speculative income. Speculative capital is formed by accumulating part of the profits of previous years and the current year. Speculative income is net income as a result, of the redistribution of speculative capital and therefore represents a special form of existence of the total profit of society. Hence, the economic nature of dividends, interest, and speculative income is the same. The necessity of the existence of speculative capital is rooted in the fact that, in contrast to the produced commodity, the price of a stock (bond) in a short time period does not have its own value basis, and therefore such a price is formed only in the very process of buying and selling. As a result, the existence of speculative capital makes possible the process of the emergence and maintenance of the market price of a stock (bond), and speculative income acts as a necessary incentive for the owners of money capital to participate in this process.

Keywords: фондовый рынок, дивиденды, финансовый рынок, прибыль, спекулятивный капитал, финансовый инструмент, цена акции, спекулятивный доход, денежные накопления