The emergence of finance and the development of financial science(2).

The era of state-monopoly capitalism is characterized by the increasing socialization of capitalist production and accelerated growth of productive forces. Centralized state regulation of the reproduction process objectively presupposes a significant expansion of redistributive relations, primarily through the state budget. 

This enables large-scale centralized financing of various activities. The state actively uses financial leverage to nationalize private enterprises by paying monetary compensation to former owners and by creating special public-private enterprises. It becomes a major investor, prepared for foreign economic expansion. Taxes serve as a lever for influencing the cyclical nature of production and as a tool for mitigating the effects of crises. State-monopoly capitalism is characterized by the development of all aspects of finance—both the state budget and corporate finance, insurance, credit, etc. Finance becomes the state's primary indirect lever of influence on social production.

In developed countries, public capital investment is growing in the coal, gas, and oil industries, in rail transport, in support of agriculture, and in the development of the space and nuclear industries. Significant expenditures are being made on funding science, stimulating the export of products and increasing their competitiveness in the global market.


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