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The Existence of Profits within the Monetary Circuit: Some Unanswered Questions Revisited

In: The Political Economy of Monetary Circuits

Author

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  • Louis-Philippe Rochon

Abstract

In previous work (Rochon, 2005), I examined the problem pertaining to the monetary realization of profits, arguing that, at the macroeconomic level, profits arise as firms are able to finance part of their investment through bank lending, and can repay the totality of the bank loan over several periods of production. This solution avoided the so-called ‘opening-up’ fallacy, to wit, relying on some external explanation or sector in order to generate macroeconomic profits.

Suggested Citation

  • Louis-Philippe Rochon, 2009. "The Existence of Profits within the Monetary Circuit: Some Unanswered Questions Revisited," Palgrave Macmillan Books, in: Jean-François Ponsot & Sergio Rossi (ed.), The Political Economy of Monetary Circuits, chapter 4, pages 56-76, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-24572-3_4
    DOI: 10.1057/9780230245723_4
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    Cited by:

    1. Dögüs, Ilhan, 2021. "Financialisation and market concentration in the USA: A monetary circuit theory," ZÖSS-Discussion Papers 87, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).
    2. Dögüs, Ilhan, 2021. "Production structure, output and profits - A note," ZÖSS-Discussion Papers 88, University of Hamburg, Centre for Economic and Sociological Studies (CESS/ZÖSS).

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