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Shifting the crisis in the global rentier regime. Imbalances and searching for new fields. The aim of this article is to identify basic trends of the current configuration of global capitalism. The article starts characterizing three essential developments from the late 1970s until the recent crisis. First, undertaking far-reaching restructuring and attacks on wages, capital was able to significantly increase the profit rates after they had fallen in the early 1970s. Second, based on the increasing power of finance capital a global rentier regime emerged. Third, countries in Southeast Asia and China became important areas for investment and capital accumulation. After this analysis the article shows that despite the crisis the finance-dominated configuration of capitalism persists. Based on a massive state intervention this regime entered a process of transformation. Enforcing bank bailouts and transforming private into public debts the states play a crucial role in stabilizing the power of finance capital. Moreover, the global imbalances between net exporters and importers increase again. The paper concludes arguing that the rise of profitability depends on the extent to which it is possible to massively devaluate capital and to open up new regions and fields for a profitable valorization of capital. Thus, the creation of a constellation allowing a stable growth period is unlikely.

Verschiebungen der Krise im globalen Rentierregime: Ungleichgewichte und Suche nach neuen Feldern