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Financial Systems and Capital Markets: an alternative view


  • Mavroudeas, Stavros
  • Lapavitsas, Costas


This paper presents the Marxist theory of the financial system and the capital markets. First, it surveys the orthodox literature on the relationship between finance and the economy. Then, the function of the capital markets is analysed. Finally the differences between the orthodox and the Marxist perspective are being explained.

Suggested Citation

  • Mavroudeas, Stavros & Lapavitsas, Costas, 1999. "Financial Systems and Capital Markets: an alternative view," MPRA Paper 18622, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:18622

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    More about this item


    finance; capital markets; Marxism; neoclassical theory;

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • G0 - Financial Economics - - General


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