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Money, Equality and Exploitation: An Interpretation of Marx’s Treatment of Money

In: Global Capital, National State and the Politics of Money

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  • Werner Bonefeld

Abstract

Since the deregulation of the international money markets in 1971 and 1973, money has emerged as a central axis of class conflict. Throughout the world, governments have responded to the shift from fixed to flexible exchange rates with policies of tight money. However, beginning with the recession of the early 1980s, developing through the ‘debt crisis’ of the 1980s, the recession of the early 1990s signals the failure of a politics of state austerity. Although the crash of 1987 and the recession of the early 1990s bear comparison with the inter-war period, it does not necessarily follow that the outcome of this crisis will match that of the 1930s. But can parallells be dismissed so easily?

Suggested Citation

  • Werner Bonefeld, 1996. "Money, Equality and Exploitation: An Interpretation of Marx’s Treatment of Money," Palgrave Macmillan Books, in: Werner Bonefeld & John Holloway (ed.), Global Capital, National State and the Politics of Money, chapter 8, pages 178-209, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14240-8_8
    DOI: 10.1007/978-1-349-14240-8_8
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