central banks

Covid 19 and the Global Political Economy: Crises in the 21st Century

Moreover, this chapter argues that while MMT has its virtues, it too misses two very important aspects of capitalism: (1) why there is a constant aggregate demand problem in a capitalist economy and; (2) that the majority of new money creation …

Covid 19 and the Global Political Economy: Crises in the 21st Century

PAUSE FOR THOUGHT: MONEY WITHOUT VALUE IN A RAPIDLY DISINTEGRATING WORLD

After the folding of the last period of mass labour mobilisation – the post-war Fordist boom – capitalism entered its terminal crisis, where fictitious money is increasingly dissociated from labour-mediated value. Already in the 1980s, the irreversible erosion of capital’s labour-substance, triggered by …

PAUSE FOR THOUGHT: MONEY WITHOUT VALUE IN A RAPIDLY DISINTEGRATING WORLD

On the situation in the financial markets

Trillion-dollar government spending programs have far exceeded the outlays following the 2008 financial crisis in Western countries, and go hand in hand with the gigantic government bond-buying programs and quantitative easing policies of central banks, which in turn flood the …

On the situation in the financial markets

Capital and Time. For a New Critique of Neoliberal Reason

  Introduction: Beyond the Critique of Speculation This introductory chapter discusses the shortcomings of the heterodox critique of financial speculation as an irrational divergence from real values. It argues that the capitalist subject speculates not in defiance of fundamental values …

Capital and Time. For a New Critique of Neoliberal Reason

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