Monetary Circuit, Capitalist Reproduction and Financial Accounting

Hernando Matallana

Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: A key issue in heterodox economics is the theoretical determination of the inner logic of the economic process through which the functional conditions of social reproduction are systematically recreated in capitalism. The monetary circuit is a particular moment of the economic process through which the recreation of private property as the capitalist social relation takes place. The understanding of the monetary logic of what Marx called the “process of circulation of capital” is thus a central element of a monetary heterodox theory of capitalism. Financial accounting methods currently applied as a powerful tool of control of society can be used critically to illuminate the capitalist circulation process.

Keywords: Capitalism; economic circuit; financial accounting; monetary production economy; social reproduction (search for similar items in EconPapers)
JEL-codes: E11 E12 E25 M41 (search for similar items in EconPapers)
Pages: 32
Date: 2019-11
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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022838

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