Entangled Chains of Value and Wealth

Contemporary capitalism is characterized by the use of multinational corporate forms to govern value and wealth. Value is controlled and produced through Global Value Chains, with lead firms guiding the process from the raw materials through to the final product being displayed for purchase. Wealth is controlled and protected through Global Wealth Chains, where services are provided by professionals in different legal jurisdictions, arbitraging opportunities between them. The entangling of Global Value Chains and Global Wealth Chains has occurred during a period in which financialization has accelerated and inequalities exacerbated. This paper explores the conceptual terrain behind the entanglement of Global Value Chains and Global Wealth Chains, and how these approaches can help us better understand contemporary capitalism.