The Credit System

Martha Campbell

Chapter 9 in The Culmination of Capital, 2002, pp 212-227 from Palgrave Macmillan

Abstract: Abstract In describing the objective of Part 5 of Capital, Vol. III, Marx states that he is considering the credit system only to the extent ‘necessary to characterize the capitalist mode of production in general’ (1894: 525). As this indicates, the credit system is, in Marx’s view, so essential that no presentation of capital would be complete without it. It points also to a distinctive feature of Marx’s account, namely, that he derives the credit system from capital, which he initially presents as industrial capital by itself. That is, he appeals to the requirements and inherent tendencies of industrial capital to explain why the credit system evolves.1

Keywords: Central Bank; Banking System; Financial Asset; Trade Credit; Credit System (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1057/9780230597099_9

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