This report discusses the overall instabilities inherent in the current global financial system in general, and the system's performance in reaction to the COVID-19 pandemic in particular. It explains why the financial crisis induced by the COVID-19 outbreak was not an unpredictable black swan...

In the years since the financial crisis, and for the first time in the history of central banks, the Federal Reserve has been pursuing monetary policies which allow shadow banks to access its reserves. The paper examines these policies in an analysis based on the concept of security structure....

At the beginning of the financial crisis, attempts were made to counteract its effects in line with the rationale of market liberalism. However, after Lehman Brothers filed for bankruptcy, it became clear that the laissez-faire rationality no longer functioned as the financial market's governing...

Poststructural research in International Political Economy (IPE) is a relatively young and growing field of studies that includes a variety of in part very diverse theories and approaches. These approaches to IPE emphasize the contingency of structures and meanings, and the struggles within the...

Das globale Finanzsystem befindet sich in einer tiefen Krise. Die Hüter des Geldes, Zentralbanken wie die EZB oder die US-amerikanische Fed, sind inzwischen zu seinem eigentlichen Rückgrat geworden und haben eine neue Ära eingeläutet: die des Zentralbankkapitalismus. Dafür mussten sie ihre...

In recent years, a comprehensive debate has been taking place over the ontological, epistemological, and methodological roots underlying the discipline of International Political Economy (IPE). A fundamental and sometimes fierce discussion arose over the questions of which research strategies...

The paper develops a political understanding of the money-form, its relation to value, to society, and to the state. It argues that the value of assets is based on societal relations. These value relations are expressed in a general measure of value – money. Money serves as the equivalent for...