Credit, Fictitious Capital and Financial Crises: reviewing the antecedents of the current crisis
AbstractThis paper deals with the current financial crisis from a Post-Keynesian and Marxist perspective. The more objective character of Marx‟s crises conception is compared with the more subjective origin of crises in Keynesian‟s ideas. This analysis is used to conduct a revision of critical literature about the antecedents of the current crisis, verifying its teachings. The central relationship between capitalist logic, credit and fictitious capital is emphasized, and also the relation with neoliberalism.
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Bibliographic InfoPaper provided by Departamento de Economia da Universidade de Brasilia in its series Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia with number 335.
Length: 27 pages
Date of creation: Nov 2010
Date of revision:
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Postal: Universidade de Brasília UnB - Campus Universitário Darcy Ribeiro Asa Norte CEP 70910-900, Brasília, Brasil
Fax: (61) 340-2311
Web page: http://e-groups.unb.br/face/eco/
More information through EDIRC
Credit; Fictitious Capital; Financial Crises; Marxist and Keynesian Conceptions.;
Find related papers by JEL classification:
- B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
- B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
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