Innerhalb des Finanzsystems werden inzwischen immer mehr Kredite von Schattenbanken vergeben, die keine traditionellen Banken und nicht deren Regulierung unterworden sind. Die wichtigsten Akteure sind Hedgefonds, Investmentbanken, Versicherungsgesellschaften und Geldmarktfonds. Akteure, die keine traditionellen Banken sind, vergeben heute also immer […]
Repo Geschäfte und Bankensystem
Robert Meisters Buch trägt den Untertitel “Eine demokratische Theorie der Finanzen für das 21 Jahrhundert.” Auf den ersten Blick sind in dem Titel zwei verschiedene Themen enthalten: Justiz und Demokratie auf der einen Seite, Finanzen und Finanzmärkte auf der anderen
Wer kann die Option der Gerechtigkeit ausüben?
We’ll consider the economy (of) capitalism, its “economic” character even more than its “capitalist” one, as the major force of destruction of spaces and forms of life (ecumenes). The economy-capitalism as an expansive bloc of colonization—of bodies as well as
The value of a risky loan is the value of a risk-free loan minus the value of the guarantee, which is the option that can be priced out, either as insurance or interest. The liquidity of private credit markets implies
Robert Meister’s book „Justice is an Option“ (4) – A Revaluation of the Financial Markets
Die niedrigen internationalen Zinssätze und die Politik der quantitativen Lockerung (QE) während und nach der globalen Finanzkrise von 2008 trugen dazu bei, den Anstieg der Auslandsverschuldung und der Schuldendienstzahlungen in allen Entwicklungsregionen zu forcieren. Die Länder des Trikonts und Schwellenländer
Die Verschuldung der Peripherie und die Tendenz der Entdollarisierung
Alla Semenova While mainstream economic theory treats weather and climate as exogenous factors which can only cause temporary disruptions to the economic equilibrium, the increasing severity of climate change means that supply-side disruptions, shortages and cost increases are becoming a
Too Hot to Handle: Why Climate Change Means Inflation Won’t Boil Over
Smith charges Harvey and Brenner, among others, with underestimating that the “highly competitive low-cost producers” (Brenner) was a result of the drive of firms in the imperialist economies to cut costs by replacing relatively expensive domestic labor with cheap labor
It is not the problem around the transfer of value or the reproduction of the value portion of fixed capital that Marazzi deals with in his essay The Amortization of the Body-Machine (Marazzi 2012: 35ff. ) (according to which constant
Machine surplus value and differential accumulation
According to economists whose theories currently prevail in America, economics has replaced political economy, and economics deals with scarcity, prices, and resource allocation. In the definition of Paul Samuelson, “economics or political economy, as it used to be called, is
Commodity Fetishism: an introduction to I.I. Rubin’s Essay on Marx’s Theory of Value
The global proletariat, as we have already seen, has never been as large as it is today. And yet the share of wages in domestic income has declined in both the South and the North. According to the ILO, since
In financial markets, asset pricing is a specific historical mode of pricing out options to then convert those options into cash. Pricing out an option in the form of a guarantee in order to sell it at its current price
Robert Meister’s book „Justice is an Option“ (3) – A Revaluation of the Financial Markets
The period 2000-2014 encapsulates a unique moment of intense globalization where nearly all countries followed the capitalist mode of production. We assess Marx’s hypotheses about capitalist development and the tendency for profit rates to decline for this period using a
Was Marx Right? Development and Exploitation in 43 Countries, 2000-2014