Global Journal of Human Social Science, E: Economics, Volume 23 Issue 3

Among the conditions of remuneration of fictitious capital is the creation of new spaces of commodification through expropriations, because as the fictitious capital is formed by masses of capital increasingly concentrated in search of spaces of valorization, they move quickly “opening new frontiers for accumulation (sky, earth, natural resources, isolated regions); destroying masses of accumulated capital considered obsolete; capturing social relationships” (VIEIRA, 2020, page 149). The crisis that manifested in 2007/2008 has its foreword with the bursting of the speculative bubble of the stocks of high-tech companies, the so-called dot com, at the turn of the 21 st century. This fact forced a large accumulated mass of fictitious capital, which survived at that time that localized crisis, to seek new niches of valuation, which were redirected to the real estate financing market, especially the North American (CARCANHOLO, 2018). The fall in property prices from 2006 has dragged several banks into an insolvency situation (where more than one can afford), having a strong impact on stock exchanges around the world, unfolding in a crisis of international financial markets and, soon after the whole world economy, due to the expansion of financial derivatives created on the basis of these markets, as soon as the crisis erupted, it spread to all levels of the financial market (CARCANHOLO, 2018). The effect of the 2007/2008 crisis on dependent and peripheral economies, including Brazil, was the deepening of dependence. Osorio (2015), explaining the role of Latin America in the current world circuit of capital appreciation, considers that a new phase of “original accumulation” has been taking place, in which millions of workers of the workforce have been expropriated from their means of life, either by the loss of state-owned means of production. In the current phase of reproduction of globalized capital, new forms of dependence are created, with privileged space nuclei of accumulation in front of several territories where the accumulation predominates, in a kind of “deterritorialization” of the capital cycle and “relocation” of capital flows, but duly conducted by the national states. The existence of large regions – the peripheral ones – where capital can remunerate workers below the value of the labor force, is one of the factors that favors the current segmentation of productive processes and imperialist investments, which seek to take advantage of low wages and low values of raw materials (OSORIO, 2014, page 171) These factors add to the neoliberal adjustments made in dependent economies, characterized by national structural reforms ideologically linked to the Washington Consensus, which basically advocated commercial opening, deregulation of markets, privatization of state and public services, elimination of most subsidies, as a way of liberalizing prices, and the internal and external financial liberalization, which would form a type of economic policy capable of ensuring the insertion of peripheral countries in the new process of globalization (AMARAL, 2005). It can be seen that the implementation of neoliberal policies deepened dependence, which can be understood as the result of a conformation between the interests of the ruling class of the countries of the region and the political-ideological imperatives of the center of the world economy. Particularly in dependent economies, this movement of recent integration into the world economy is part of a project to restore power to the ruling classes in the neoliberal context, as Harvey (2008) warns, considering that there has been a reconfiguration of the ruling classes, an intra-bourgeois recomposition – a financialized rentier fraction of world reach with new structures in transnational trade relations – which will tension the state toward an increase in its coercive (violent) dimension, as a corresponding increase in the demand for the formation of consensus to carry out the counter reforms necessary to socialize the costs of the crisis. These neoliberal policies implied expropriations of public and common goods, with the sale of profitable companies at low prices with conditions beneficial to private capital and, in many cases, foreign, in addition to the dismantling of social benefits of various kinds, which for Osorio (2015, p.38) means a “brutal expropriation of real wages for millions of workers.” An unfolding of these processes, there is an extraordinary increase in the available workforce, accelerating the increase in relative overpopulation, favoring the fall of wages, the reduction of social policies, public services and social benefits, associated with structural precariousness of work. In dependent economies, these processes are associated with the conditions of overexploitation, that is, the prolongation of the working day, the intensification of work and the payment of the workforce below its value or expropriation of part of the worker’s labor required to restore his/her workforce (Marini [1973] 2011). For Marini ([1973] 2011), the overexploitation of the labor force corresponds to a situation in which the worker is remunerated below his or her value systematically, even outside of crisis situation s 2 , that is, due to the need for systematic value transfers to the imperialist countries in dependent economies, despite the fact that the working class is subjected daily to the day prolongation and the 2 It is worth noting that the use of overexploitation appears in regions of the central countries in times of crisis and in the most precarious sectors of these economies, usually filled with segments of the working class composed of black men and women, and immigrant population groups, confirming that the value of the workforce of this population is paid below even outside their respective countries. See studies of VALENCIA, Adrian Sotelo. The structuring of the world of work. Overexploitation and new paradigms of work organization. Uberlândia: EDUFU, 2009. © 2023 Global Journals Volume XXIII Issue III Version I 26 Global Journal of Human Social Science - Year 2023 ( )E Expropriation of Rights, Dependent Capitalism and Transfer of Income: Reflections on the Effects of the Covid-19 Pandemic