Investment Fund Money and the Reproduction of Capitalism: A Marxian Approach
Investment fund money is a particular form of credit money whose nominal value is linked to the market prices of the assets held by mutual investment funds. The present paper argues — contrary to some neoclassical theorists — that investment fund money cannot (by itself) provide an adequate monetary basis for the reproduction of capitalism. The argument is based on the role of a medium of circulation of credible exchange value in the processes by which a credit crisis creates conditions for an eventual renewal of capital accumulation.
Year of publication: |
1988
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Authors: | Burkett, Paul |
Published in: |
Review of Radical Political Economics. - Union for Radical Political Economics. - Vol. 20.1988, 2-3, p. 48-54
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Publisher: |
Union for Radical Political Economics |
Saved in:
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