Intra-capitalist Conflicts, Monetary Policy and Income Distribution

Georgios Argitis

Review of Political Economy, 2001, vol. 13, issue 4, 453-470

Abstract: This paper investigates Marx's monetary analysis of the role of the interest rate in the distribution of surplus-value. It is argued that Marx allowed the interest rate to directly influence the distribution of surplus-value between enterprise profit and interest. Moreover, he thought the interest rate to be subject to the conflict between industrial and money capitalists. Recent developments in Sraffian and neo-Marxian literature provide the foundations for a Marxian analytical framework that allows intra-capitalist conflict, monetary policy and the interest rate to affect the intra-capitalist and the inter-class income distribution.

Date: 2001
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DOI: 10.1080/09538250120099953

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