IDEAS home Printed from https://ideas.repec.org/a/ris/ejessy/0017.html
   My bibliography  Save this article

L’articulation entre dette publique et dette privée dans la dynamique du capitalisme contemporain

Author

Listed:
  • Baronian, Laurent

    (Université Paris 3 Sorbonne Nouvelle)

  • Matari, Pierre

    (Universidad Autónoma de la Ciudad de México)

Abstract

In this paper, we support that public debt is the axis around which the whole credit system reproduces itself. At the macroeconomic level, the implications of this complex articulation between public and private debt is expressed through the two main purposes of monetary policy. Henceforth, central banks are enjoined to fight against the rise in the production prices of inputs, as well as, in the same time, to support the rise of securities on the financial markets. The policy of the Fed since the 2007 crisis clearly shows the conditions of realization as well as of the meaning of these two imperatives. This crisis management discloses indeed the subjection of the Treasury Department to the Fed and expresses the real content of the concept of “independence” of big central banks, namely the freedom of financial capital against public authorities.

Suggested Citation

  • Baronian, Laurent & Matari, Pierre, 2012. "L’articulation entre dette publique et dette privée dans la dynamique du capitalisme contemporain," European Journal of Economic and Social Systems, Lavoisier, vol. 25(1-2), pages 27-38.
    • Handle: RePEc:ris:ejessy:0017
    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.

    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:ris:ejessy:0017. 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: Stefano Lucarelli (email available below). General contact details of provider: http://ejess.revuesonline.com/ .

    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.