Rudolf Hilferding

Date of Birth: August 10, 1877

Zodiac Sign: Leo

Date of Death: February 11, 1941

Biography

Rudolf Hilferding was an Austrian-born Marxist economist, journalist, and politician. He was born on August 10, 1877, in Vienna, Austria-Hungary. Hilferding is best known for his work on financial capitalism and his significant contributions to Marxist economic theory. His most influential work, “Finance Capital,” published in 1910, analyzed the role of banks and monopolies in the capitalist economy, and it became a cornerstone in Marxist economic thought. Hilferding was also active in politics, serving as a member of the Social Democratic Party of Germany (SPD). He held various positions within the party and represented the SPD in the Reichstag (the German parliament). During the Weimar Republic, he served as the Minister of Finance in 1923 and again from 1928 to 1929. His tenure was marked by efforts to stabilize the German economy during a period of hyperinflation and political instability. Despite his efforts, the rise of the Nazi party posed a significant threat to Hilferding and his colleagues. In 1933, following the Nazi seizure of power, he fled to Switzerland and later to France. Unfortunately, Hilferding was captured by the Gestapo in 1941 in France and was later found dead under suspicious circumstances in a Paris prison in 1941.

5 Interesting Facts about Rudolf Hilferding

1. Rudolf Hilferding was a key figure in developing the theory of organized capitalism, which posits that monopolies and large corporations dominate the capitalist economy.

2. He was the first Marxist to hold the position of Finance Minister in a government, serving in the Weimar Republic.

3. Hilferding’s work influenced later economists, including John Maynard Keynes and Joseph Schumpeter.

4. He was a staunch opponent of both fascism and Stalinism, advocating for a democratic socialist path.

5. Hilferding was a prolific writer and editor, contributing to several Marxist journals and periodicals throughout his career.

5 Most Interesting Quotes from Rudolf Hilferding

1. “Finance capital does not want liberty, it wants domination.”

2. “The concentration of capital and the rise of monopolies are the inevitable results of the capitalist mode of production.”

3. “The state is nothing but an instrument of power in the hands of the ruling class.”

4. “The economic power of finance capital brings with it political power.”

5. “Socialism is not a utopia but a necessary outcome of the development of capitalism.”

Highest Net Worth Achieved

Rudolf Hilferding’s net worth is not documented, as his life was dedicated to political activism and economic theory rather than personal financial gain.