EconPapers    
Economics at your fingertips  
 

What money does: An inquiry into the backbone of capitalist political economy

Kai Koddenbrock

No 17/9, MPIfG Discussion Paper from Max Planck Institute for the Study of Societies

Abstract: The theory and critique of capitalism is back at the center of scholarly debate. With it comes a growing awareness of the analytical and political importance of money and money creation. Moving from the more systemic reflections of Karl Marx to more recent work on money theory by Geoffrey Ingham and in financial economics, the paper focuses on three of money's "deeds." As a social structure and process, it makes moneymaking through capital permeate all our societies. As a public-private partnership between the state, rentiers, banks, and taxpayers that has existed since the foundation of the Bank of England in 1694, it binds these actors together in shifting relations of dependence. In today's financial capitalism, what counts as money and how far moneyness stretches into the realms of financial innovation has been the core object of struggle in the public-private partnership of money. In conclusion, the paper discusses how contemporary money redistributes intra-socially and internationally.

Keywords: capitalism; Bank of England; derivatives; inequality; banks; US dollar; Marx; Ingham (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-his, nep-hme, nep-hpe, nep-pay and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/162118/1/889808678.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:mpifgd:179

Access Statistics for this paper

More papers in MPIfG Discussion Paper from Max Planck Institute for the Study of Societies Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().

 
Page updated 2023-11-08
Handle: RePEc:zbw:mpifgd:179