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 most difficult aspect of this relation, namely how money acquires value, and thereby serves, under definite conditions which characterise recessions and depressions, as self-expanding value, so becoming an alternative use of capital to production.
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Contingency and Foundation: Rethinking Money, Debt, and Finance after the Crisis
Covid ‐ 19 Capitalism, Neoliberal Debt & the Need for Sovereign Money
Why IPE Needs to Talk about Money: On Austerity, Financial Power, and DebtOn the Character of the Current Economic CrisisThe Current Financial Meltdown: A Crisis of Finance Capital-Driven Globalisation
