IDEAS home Printed from https://ideas.repec.org/a/oup/cambje/v18y1994i5p447-61.html
   My bibliography  Save this article

The Banking School and the Monetary Thought of Karl Marx

Author

Listed:
  • Lapavitsas, Costas

Abstract

Karl Marx's opposition to the quantity theory of money, the distinction he drew between fiat and credit money, and the emphasis he laid on money hoard formation all reveal the influence of the Banking School. His own monetary work, however, provided important theoretical foundations, which the anti-quantity theory tradition lacked. First, Marx elaborated the close connection between forms and functions of money. Second, his analysis of capitalist reproduction provided a model for the continuous redivision of the money stock into a circulating and a hoarded part. This work supported the claim that determination runs from prices to money and not vice versa. (c) 1994 Academic Press, Inc. Copyright 1994 by Oxford University Press.

Suggested Citation

  • Lapavitsas, Costas, 1994. "The Banking School and the Monetary Thought of Karl Marx," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 18(5), pages 447-461, October.
    • Handle: RePEc:oup:cambje:v:18:y:1994:i:5:p:447-61
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eckhard Hein, 2006. "Money, interest and capital accumulationin Karl Marx's economics: a monetary interpretation and some similaritiesto post-Keynesian approaches," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 13(1), pages 113-140.
    2. Simon Mouatt, 2008. "Evaluating Stephen Zarlenga's treatment of historical monetary thought," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 35(11), pages 846-856, September.
    3. Costas Lapavitsas, 2002. "Banks And The Design Of The Financial System: Underpinnings In Steuart, Smith And Hilferding," Working Papers 128, Department of Economics, SOAS University of London, UK.
    4. Bill Lucarelli, 2011. "The Economics of Financial Turbulence," Books, Edward Elgar Publishing, number 14252.
    5. Hein, Eckhard, 2004. "Money, credit and the interest rate in Marx's economic. On the similarities of Marx's monetary analysis to Post-Keynesian economics," MPRA Paper 18608, University Library of Munich, Germany.
    6. Eckhard Hein, 2005. "Money, Interest, and Capital Accumulation in Karl Marx’s," Method and Hist of Econ Thought 0501002, University Library of Munich, Germany.
    7. Costas Lapavitsas, 2000. "On Marx's Analysis of Money Hoarding in the Turnover of Capital," Review of Political Economy, Taylor & Francis Journals, vol. 12(2), pages 219-235.
    8. Freeman, Alan, 2016. "The Whole of the Storm: Money, debt and crisis in the current Long Depression," MPRA Paper 84394, University Library of Munich, Germany.
    9. Hein, Eckhard, 2002. "Money, interest, and capital accumulation in Karl Marx's economics: A monetary interpretation," WSI Working Papers 102, The Institute of Economic and Social Research (WSI), Hans Böckler Foundation.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:18:y:1994:i:5:p:447-61. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/cje .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.