Banking and Financial Circuits and the Role of the State
Edited by Louis-Philippe Rochon and Mario Seccareccia
The central focus of this book is the relationship between money, the sphere of production, and the State. It explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the production processes within contemporary capitalist economies. Importantly, the expert contributors illustrate that the true challenge ahead is to address how these new emerging forms can be eventually tamed, a challenge that the recent financial crisis has forcefully proven essential.
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- Monetary Economies of Production
- Selected publications of Alain Parguez
- Chapter 1: Alain Parguez’s contribution to political economy
- Chapter 2: The State, the central bank and the monetary circuit
- Chapter 3: A historical perspective on the theory of the monetary circuit: from Schumpeter to Parguez
- Chapter 4: Time of production, time of circulation and turnover time: exploring the guts of Marx’s circuits of capital
- Chapter 5: Credit creation, the monetary circuit and the formal validity of money
- Chapter 6: Is there room for bulls, bears and States in the circuit?
- Chapter 7: When wolves cry ‘wolf’: systemic financial crises and the myth of the Danaid Jar
- Chapter 8: Financial institutions and the State: a re-examination
- Chapter 9: Basel III and the strengthening of capital requirement: the obstinacy in mistake or why ‘it’ will happen again
- Chapter 10: Rethinking banking institutions in contemporary economies: are there alternatives to the status quo?
- Chapter 11: Financial flows and Mexico’s disintegrated spaces of production
- Chapter 12: Public expenditure and deficits: the emerging countries’ financial circuits and crises
- Chapter 13: The end of the innocence: the true nature of the euro crisis, and the alternative based on Minsky’s socialization of the economy and Parguez’s good deficits
- Chapter 14: The monetary conditions for growth: Parguez’s debt stability condition
- Chapter 15: A contribution to the macroeconomics of public goods and externalities
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