Intra-capitalist Conflicts, Monetary Policy and Income Distribution
AbstractThis paper investigates Marx's monetary analysis of the role of the interest rate in the distribution of surplus-value. It is argued that Marx allowed the interest rate to directly influence the distribution of surplus-value between enterprise profit and interest. Moreover, he thought the interest rate to be subject to the conflict between industrial and money capitalists. Recent developments in Sraffian and neo-Marxian literature provide the foundations for a Marxian analytical framework that allows intra-capitalist conflict, monetary policy and the interest rate to affect the intra-capitalist and the inter-class income distribution.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Review of Political Economy.
Volume (Year): 13 (2001)
Issue (Month): 4 ()
Contact details of provider:
Web page: http://www.tandfonline.com/CRPE20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Garegnani, Pierangelo, 1979.
"Notes on Consumption, Investment and Effective Demand: II,"
Cambridge Journal of Economics,
Oxford University Press, vol. 3(1), pages 63-82, March.
- Garegnani, Pierangelo, 1978. "Notes on Consumption, Investment and Effective Demand: I," Cambridge Journal of Economics, Oxford University Press, vol. 2(4), pages 335-53, December.
- Panico, Carlo, 1980. "Marx's Analysis of the Relationship between the Rate of Interest and the Rate of Profits," Cambridge Journal of Economics, Oxford University Press, vol. 4(4), pages 363-78, December.
- Hein, Eckhard, 2002. "Money, interest, and capital accumulation in Karl Marx's economics: A monetary interpretation," WSI Discussion Papers 102, Wirtschafts- und Sozialwissenschaftliches Institut (WSI), Hans-Böckler-Stiftung.
- Georgios Argitis & Stella Michopoulou, 2011. "Are Full Employment and Social Cohesion Possible Under Financialization?," Forum for Social Economics, Springer, vol. 40(2), pages 139-155, July.
- 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.
- Eckhard Hein, 2005. "Money, Interest, and Capital Accumulation in Karl Marx’s," Method and Hist of Econ Thought 0501002, EconWPA.
- Georgios Argitis, 2008. "Finance, Investment and Macroeconomic Performance," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 71-88.
- 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.