This article seeks to contribute to the existing critical debates on money and debt by advancing three main arguments. First, largely due to such debates’ tendency for description, the article argues that in in the heterodox literature on money and […]
Capitalized money, austerity and the math of capitalism
This article investigates the mechanisms and causes of recessions and depressions, and their relation to the more spectacular financial crises which announce them. It demonstrates how the concept of the Monetary Expression of Labour Time (MELT) allows us to understand
THE WHOLE OF THE STORM MONEY, DEBT AND CRISIS IN THE CURRENT LONG DEPRESSION
Recently, the writings of Suzanne de Brunhoff (1929-2015), largely unknown at least in the German-speaking world, have again been mentioned by some Marxist economists and philosophers. Tony Norfield refers to Brunhoff in his book “The City” in a footnote in
Remarks on Suzanne de Brunhoffs “Marx on Money”
1) Economic quantities can be changed in time precisely because money, as a so-called transcendental signifier of capital, has the quality of a pure quantity, whereby money is released from current acts of exchange and thus, as a monetary sign,
25 Theses at time (of capital)
general value form In order to obtain the general value form from the unfolded value form, only the simple operation of reversal is required, which implies that we are dealing virtually with a simultaneous second and third value form. Now
Money robots are actually nothing more than complex algorithms that analyze and process data and are also able to learn from feedback and results. Former MEP Martin Ehrenhauser has published an informative book on this subject. The book “Die Geldroboter”,
John Milios National Technical University of Athens, john.milios@gmail.com Dimitris P. Sotiropoulos The Open University Business School, UK, d.p.sotiropoulos@gmail.com 1. Globalization, financialization, crisis The current financial crisis of capitalism is without precedent in the post-war period. Regarding the crisis, recent heterodox
Financial Capital Globalization as Capital Discipline and the Socialist Alternative
1) Economic quantities can also be changed in time precisely because money, as a so-called transcendental signifier for capital, possesses the quality of a pure quantity, with which money is released from current barter exchanges and thus as a monetary
Here we examine the ratio of financial capital (finance) to the reproduction of capital. In Section A, we clarify the concept of extended reproduction with particular reference to the concept of circulation. Section B deals mainly with the previously neglected
Finance and Reproduction of Capital
The world economy is currently in a phase of secular stagnation with persistently low growth rates of the real gross domestic product.1 The litanies of boundless economic growth that the representatives of capital and the imperialist states repeatedly prayed to
Capital and Power in the 21st Century (Extract)
Circulation is a concept and category Marx uses to analyze capital as a process in addition to or, rather than, a relation. Marx’s analysis of the circulation process is challenging, which in part is due to the polysemy of circulation
Michel Feher claims in his new book, Rated Agency, that capitalized capitalism, which started in 1970, is akin to a Copernican revolution in that the new regime of capital accumulation no longer focuses on industrial companies based on vertical integration and
THE AGE OF SPECULATIVE CAPITAL AND GLOBAL CIRCULATION FIGHTS