Credit, Fictitious Capital and Financial Crises: reviewing the antecedents of the current crisis

Maria de Lourdes Mollo ()

No 335, Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia from Departamento de Economia da Universidade de Brasilia

Abstract: This paper deals with the current financial crisis from a Post-Keynesian and Marxist perspective. The more objective character of Marx‟s crises conception is compared with the more subjective origin of crises in Keynesian‟s ideas. This analysis is used to conduct a revision of critical literature about the antecedents of the current crisis, verifying its teachings. The central relationship between capitalist logic, credit and fictitious capital is emphasized, and also the relation with neoliberalism.

Keywords: Credit; Fictitious Capital; Financial Crises; Marxist and Keynesian Conceptions. (search for similar items in EconPapers)
JEL-codes: B14 B51 E44 E51 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2010-11
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