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Graziani's analysis of the circuit: does it extend to the era of financialisation?

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  • Malcolm Sawyer

    (University of Leeds, UK)

Abstract

This paper outlines some key features of the circuitist analysis provided by Augusto Graziani, and some key features of the processes of financialisation. It argues that the key features of the monetary circuit analysis remain relevant and indeed central to a monetary analysis. It presents a development of a circuit analysis in which some features of financialisation are incorporated. It argues that the circuitist approach provides a framework within which the detailed analysis of a specific monetary economy can be located.

Suggested Citation

  • Malcolm Sawyer, 2016. "Graziani's analysis of the circuit: does it extend to the era of financialisation?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 4(3), pages 303-315, July.
    • Handle: RePEc:elg:rokejn:v:4:y:2016:i:3:p303-315
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    References listed on IDEAS

    as
    1. Malcolm Sawyer, 2013. "What Is Financialization?," International Journal of Political Economy, Taylor & Francis Journals, vol. 42(4), pages 5-18.
    2. Graziani,Augusto, 2003. "The Monetary Theory of Production," Cambridge Books, Cambridge University Press, number 9780521812115.
    3. Marco Veronese Passarella & Malcolm Sawyer, 2014. "Financialisation in the circuit," Working papers wpaper18, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    4. Marco Veronese Passarella, 2014. "Financialization and the Monetary Circuit: A Macro-accounting Approach," Review of Political Economy, Taylor & Francis Journals, vol. 26(1), pages 128-148, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    circuitist analysis; financialisation; Augusto Graziani;
    All these keywords.

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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