The Moral Economy of Money and the Future of European Capitalism

Stefan Collignon

Chapter 2 in The Global Crash, 2010, pp 32-51 from Palgrave Macmillan

Abstract: Abstract The financial and economic crisis has raised new questions about the future of the capitalist system. Twenty years after the fall of the Wall in Berlin, the alternative is clearly no longer a planned economy, Soviet style, but the fragility of the capitalist system is again apparent to everyone. Curiously, Marx never fully understood the nature of money, finance and capital. He explained the capitalist crisis by the fall of return on real capital, but the system’s systemic instability resides in the financial sphere.

Keywords: Central Bank; Euro Area; Hedge Fund; European Monetary Union; Macroeconomic Policy (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28153-0_3

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DOI: 10.1057/9780230281530_3

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