Veronese Passarella, M orcid.org/0000-0001-7652-5952 (2015) Moneta, finanza e crisi. Marx nel circuito monetario (Money, Finance and Crisis. Marx Within the Monetary Circuit). Iride, 28. pp. 67-78. ISSN 1122-7893
Abstract
The so-called "Theory of Monetary Circuit" not only represents an original Marxian rereading of Keynesian macroeconomic categories, but also provides an essential tool for the analysis (and the critique) of recent developments in capitalist economies, including the financialization process. Starting from a "circuitist" view, it is argued that the twin financial crises of 2000 and 2007 can be regarded as the "friction points" of the law of creation of value and surplus value (that still relies on the extension and intensification of the exploitation of the living labor in the production sphere) with the private realization of value created (i.e. the historically determined way of setting relative prices, including return rates on financial assets) under current financially sophisticated capitalist economies.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2015, Società Editrice Il Mulino S.p.A. This is an author produced version of a paper published in Iride. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Marxian Economic Thought; Labor Theory of Value; Monetary Circuit; Financialization; Economic Crisis |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 24 Oct 2018 14:46 |
Last Modified: | 24 Oct 2018 14:46 |
Status: | Published |
Publisher: | Società Editrice il Mulino |
Identification Number: | 10.1414/79463 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:137614 |