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Money, credit and finance in The Arcades Project


  • Estrada, Fernando


The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems appropriate at a time when the financial crisis should be taught as a deeper crisis. Walter Benjamin is placed beyond its time, with a powerful sense of observation worthy of emulation analytical.

Suggested Citation

  • Estrada, Fernando, 2010. "Money, credit and finance in The Arcades Project," MPRA Paper 35059, University Library of Munich, Germany, revised 2013.
  • Handle: RePEc:pra:mprapa:35059

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    References listed on IDEAS

    1. Dellas, Harris & Tavlas, George S., 2009. "An optimum-currency-area odyssey," Journal of International Money and Finance, Elsevier, vol. 28(7), pages 1117-1137, November.
    2. Julius Horvath, 2004. "Optimum currency area theory: A selective review," Macroeconomics 0401014, EconWPA.
    3. George S. Tavlas, 2009. "Optimum-Currency-Area Paradoxes," Review of International Economics, Wiley Blackwell, vol. 17(3), pages 536-551, August.
    4. Herbert G. Grubel, 1970. "The Theory of Optimum Currency Areas," Canadian Journal of Economics, Canadian Economics Association, vol. 3(2), pages 318-324, May.
    5. Francesco Paolo Mongelli, 2008. "European Economic and Monetary Integration, and the Optimum Currency Area Theory," European Economy - Economic Papers 2008 - 2015 302, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    6. Mongelli, Francesco Paolo, 2002. "ìNew" Views on the Optimum Currency Area Theory: What is EMU Telling US?," Royal Economic Society Annual Conference 2002 140, Royal Economic Society.
    7. Herbert Giersch, 1973. "On the desirable degree of flexibility of exchange rates," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 109(2), pages 191-213, June.
    8. Connolly, Michael B, 2001. "Robert A. Mundell: A Profile," Review of International Economics, Wiley Blackwell, vol. 9(4), pages 585-594, November.
    9. Rose, Andrew K, 2000. " A Review of Some of the Economic Contributions of Robert A. Mundell, Winner of the 1999 Nobel Memorial Prize in Economics," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(2), pages 211-222, June.
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    Cited by:

    1. Estrada, Fernando, 2010. "Theory of argumentation in financial markets," MPRA Paper 21824, University Library of Munich, Germany.

    More about this item


    Financial theory; markets; Black swan; stock markets; financial crisis; markets risk; Walter Benjamin; Arcades Project;

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games


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