domingo, 26 de abril de 2009

Political Economy of Money, Credit and Finance in Contemporary Capitalism

A characteristic of Marxian political economy is the theoretical elucidation of the history of capitalism, the latter being based on the market economy. In this respect, Marxian political economy must always be aware of historical materialism as ‘a guiding thread’. The task of Marxian political economy, however, must also be relatively independent of particular ideological worldviews, and in its scientific research it should follow historical facts and the objective logic of capitalist market economies.

(...) However, the theoretical treatment of the history of capitalism is far from an easy task. For one thing, the historical nature of capitalism is not simple. It should be distinguished from forms of market economy that long preceded capitalism. The nature of the capitalist market economy, moreover, has itself changed in the course of global history.

(...) In contrast to Marxian political economy, other schools in economics, particularly orthodox neoclassical economics, tend to be ahistorical and to over-generalise the contemporary features of market economy on the basis of abstract fundamental theory.

(...) in my reading, theoretical concepts in Marx’s Capital are not abstracted exclusively from the fully developed capitalist market economy. Marx well recognises an older and broader range of historical forms of market economy (and a variety of functions of money), which precede and provide an essential basis for capitalist economy.

Lea todo el artículo de Makoto Itoh donde realiza algunos comentarios a trabajos de Lapavitsas y Dymski e intenta dilucidar algunos conceptos sobre el tema del crédito y la finanzas dentro de la teoría marxista aquí

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