Finance and reproduction: Rudolf Hilferding’s crisis theory
Christian Tutin ()
Cahiers d’économie politique / Papers in Political Economy, 2006, issue 51, 217-239
Beside an analysis of bank credit and financial markets, of monopoly capitalism, he role of the state and imperialism, Hilferding’s Finance Capital offers a theory of economic crisis which presents itself as an intent to incorporate the movements of profit rates and relative prices, and the financial conditions of accumulation, to the analysis of capital reproduction. Crisis emerge from an excess rate of gross investment, leading to an impossibility to finance the rising cost of fixed capital. Hilferding’s theory has thus an “Austrian” flavour, even if his monetary analysis is closer from Keynes than from Hayek. And remains a point of departure for a post-marxian theory of crisis
JEL-codes: B14 B25 E11 E32 E44 (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cpo:journl:y:2006:i:51:p:217-239
Ordering information: This journal article can be ordered from
142 rue du faubourg Saint-Martin. 75010 Paris, France.
Access Statistics for this article
Cahiers d’économie politique / Papers in Political Economy is currently edited by Claire Pignol
More articles in Cahiers d’économie politique / Papers in Political Economy from L'Harmattan
Bibliographic data for series maintained by Carlos Andrés Vasco Correa ().