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practices, with the core principle that money should serve the economy and society and not vice versa. In a world of financial … capitalism, a world driven by money and adjacent institutions appear to be defective and unjust to many of us. The conflicts …
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This paper explores the crisis and some implications against the Marxian profit rate (PR). The PR helps explaining a number of phenomena often considered disparate. The focus is on integrating exploded fictitious capital in the PR and to estimate a corrected PR. We estimate global fictitious...
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As creators of credit money, commercial banks prevent the nonfinancial private sector from being constrained by its prior savings in accordance with the theory of the monetary circuit. Commercial banking provides the means for a private economy to break away from its financial constraint....
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During the crisis, it became evident that the kind of capitalism that was becoming dominant in the developed world over … world; how were the transitional economies of former Yugoslavia affected; what was the theoretical or ideological foundation … capitalism to be expected. Financial reforms are crucial for the developed world and they may trigger more profound changes. For …
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