Graziani’s circuit scheme. A methodological exploration

Hervé Baron

MPRA Paper from University Library of Munich, Germany

Abstract: In the following paper, we shall focus on the Italian branch of the monetary circuit (or monetary theory of production). In particular, we shall attempt a methodical exploration of the theoretical production of the one who may rightly be considered the founding father of this branch: Augusto Graziani. We shall do this along three lines. Firstly, in the wake of Lunghini and Bianchi (2003), we shall argue that that of Graziani, far from being a complete model, is presented as a historically “open” scheme, which therefore needs “closure”. Secondly, we shall argue that this scheme should be considered as a logical, not historical, re-construction of the functioning of the capitalist economy. Finally, we shall illustrate how such a scheme stands at the highest possible level of abstraction.

Keywords: Monetary Circuit; Graziani; Methodology. (search for similar items in EconPapers)
JEL-codes: B31 B41 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-ban, nep-his, nep-hme, nep-hpe and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:119511

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