credit

Covid ‐ 19 Capitalism, Neoliberal Debt & the Need for Sovereign Money

… If no one borrowed, our capitalist economies would go into severe contraction because the vast majority of our money is created as debt. This is why financial elites were rattled during the global financial crisis: they feared credit would …

Covid ‐ 19 Capitalism, Neoliberal Debt & the Need for Sovereign Money

Money as Money: Suzanne de Brunhoff’s Marxist Monetary Theory

Abstract: This article proposes the necessity to return to Suzanne de Brunhoff’s Marxist monetary theory in order to conceptualise the relationship between production and social reproduction within financialised capitalist social relations. De Brunhoff maintains a commitment to understanding «money as …

Money as Money: Suzanne de Brunhoff’s Marxist Monetary Theory

On the Character of the Current Economic Crisis

Spyros Lapatsioras,1 Leonidas Maroudas,2 Panayotis G. Michaelides,3 John Milios,4 D. P. Sotiropoulos,5 1. Introduction In the third chapter of Capital Marx observed: “As long as the social character of labour appears as the money existence of the commodity and hence …

On the Character of the Current Economic Crisis

Marx’s Critique of (Ricardian) Political Economy, the Quantity Theory of Money and Credit Money

The Marxist concept of value is very frequently equated, whether explicitly or merely tacitly, with the corresponding Ricardian concept of “labour expended”. This paper argues that unlike the Ricardian theory of value, the Marxist theory of value is a monetary …

Marx’s Critique of (Ricardian) Political Economy, the Quantity Theory of Money and Credit Money

Marx’s Monetary Theory of Value and Capital and Contemporary Capitalism

Contemporary capitalism is characterized on the one hand by ‘liberalization’ of markets, flexibility and restructuring of production structures in a direction undermining the workers’ rights and living standards, and on the other by a huge expansion of the financial sphere. …

Marx’s Monetary Theory of Value and Capital and Contemporary Capitalism

Schumpeter and Lederer on Growth, Technology, Credit and Business Cycles

Panayotis G. Michaelides, John G. Milios and Angelos Vouldi It is the purpose of the present paper to compare Emil Lederer and Joseph Schumpeter withrespect to their visions concerning the notions of economic growth, technology, credit and business cycles. Lederer, …

Schumpeter and Lederer on Growth, Technology, Credit and Business Cycles

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