Graziani’s analysis of the circuit: does it extend to the era of financialisation?

The paper outlines some key features of the circuitist analysis provided by Augusto Graziani, and some features of the processes of financialisation. It argues that the key features remain relevant and indeed central to a monetary analysis. It presents a development of a circuit in which some features of financialisation are incorporated. It argues that the circuit provides a framework within the detailed analysis of a specific monetary economy can be located.