Monetary and Financial Aspects of the Business Cycle

Makoto Itoh and Costas Lapavitsas
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Makoto Itoh: Kokugakuin University
Costas Lapavitsas: University of London

Chapter 6 in Political Economy of Money and Finance, 1999, pp 123-153 from Palgrave Macmillan

Abstract: Abstract In the work of the classical school the capitalist economy represents a natural and harmonious social order. For Marx, on the other hand, the capitalist economy is inherently unstable. Economic instability has several monetary and financial aspects. The following three levels can be identified in Marx’s analysis of monetary and financial stability.

Keywords: Business Cycle; Real Wage; Capitalist Accumulation; Capitalist Economy; Fixed Capital (search for similar items in EconPapers)
Date: 1999
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DOI: 10.1057/9780230375789_6

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