The Role of Money in Capitalism

Lau, Jeffrey Y.F.; Smithin, John

doi:10.1080/08911916.2002.11042878

Cited by 15 publications

(2 citation statements)

References 34 publications

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“…Primera, un Estado no puede quedarse sin reservas del dinero fiduciario que él mismo puede crear y respaldar estableciendo impuestos a los agentes privados en su ámbito de soberanía. Segunda, la clave del crecimiento económico en el capitalismo es la financiación del déficit de al menos un sector de la economía, un papel que ha cumplido el Estado en varias épocas; cuando no lo ha cumplido se han formado burbujas especulativas (Lau y Smithin, 2002).…”

Section: Deuda Del Banco Centralunclassified

El dinero moderno y el enfoque cartalista institucional

Hidalgo¹,

Moruno²,

Preciado³

2020

ecoins

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Este trabajo contrasta las bases de la economía monetaria metalista con los fundamentos monetarios institucionalistas del cartalismo. Impugna la concepción del dinero que permea las doctrinas económicas y políticas contemporáneas, y propone una concepción más ajustada a la realidad y a la evidencia histórica, en la que el dinero impulsa a las variables reales. Resalta la naturaleza del dinero-crédito moderno como unidad de cuenta, cuya transferibilidad incorpora al Estado como deudor. Concluye que una concepción moderna da a la autoridad monetaria herramientas de política útiles y concretas para afrontar los problemas de pleno empleo y estabilidad de precios que sacuden a las sociedades actuales.

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Section: Deuda Del Banco Centralunclassified

El dinero moderno y el enfoque cartalista institucional

Hidalgo¹,

Moruno²,

Preciado³

2020

ecoins

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“…To be clear, what we mean by 'system description' is that this literature has not only been concerned to describe how we arrived at the present fiscal-monetary order in modern states but also how new money enters the economy (Bell, 2000(Bell, , 2001Bell and Henry, 2001;Graziani, 2009;Kim, 2011;Lau and Smithin, 2002;Semenova, 2011;Sgambati, 2016;Smithin, 2000;Werner, 2014aWerner, , 2014bWray, 1998Wray, , 2002Wray, , 2004Wray, , 2015. In our view, this literature is extremely valuable but limited in that it does not examine the consequences of present money creation but merely sets out to describe how the monetary system may (or may not) function.…”

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Capitalized money, austerity and the math of capitalism

DiMuzio

Robbins

2020

Current Sociology

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This article seeks to contribute to the existing critical debates on money and debt by advancing three main arguments. First, largely due to such debates’ tendency for description, the article argues that in in the heterodox literature on money and debt there is no convincing critical theory of money creation. For this reason the authors introduce the theory of capital as power and how it can help us theorize the consequences of present money creation. Second, the authors demonstrate how the capitalization of money creation by a minority of investors not only leads to the political chase for unsustainable economic growth, but also how there is a differential distribution of interest upwards that helps generate greater economic inequality in the United States. Third, they argue that in an era of declining growth, dominant owners of capital seek to recapture their expected return on investments by extracting a greater share of the national income from the vast majority of citizens through a fiscal politics of austerity.

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Sovereignty and Monetary Integration

Zimmermann¹

2019

European Republicanism

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The Role of Money in Capitalism

Cited by 15 publications

References 34 publications

El dinero moderno y el enfoque cartalista institucional

El dinero moderno y el enfoque cartalista institucional

Capitalized money, austerity and the math of capitalism

Sovereignty and Monetary Integration

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