Social Foundations Of Markets Money And Credit
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Author | : Costas Lapavitsas |
Publisher | : Routledge |
Total Pages | : 166 |
Release | : 2003-09-04 |
Genre | : Business & Economics |
ISBN | : 1134368798 |
Where does the power of money come from? Why is trust so important in financial operations? How does the swapping of gifts differ from the exchange of commodities? Where does self-interest stop and communal solidarity start in capitalist economies?These issues and many more are discussed in a rigorous, yet readable, manner in Social Foundations of
Author | : Costas Lapavitsas |
Publisher | : Psychology Press |
Total Pages | : 170 |
Release | : 2003 |
Genre | : Business & Economics |
ISBN | : 9780415318051 |
What is the difference between money and capital? Is anti-globalization necessarily anti-money? These points and many more are debated and dealt with in "Social Foundations of Markets, Money and Credit". The book examines the case that the capitalist economy is permeated with non-economic relations that flow from the exploitative relations of production. Lapavitsas shows that markets have one aspect in common: money - and critically analyses all aspects of this slippery concept. This book should interest and inform students and researchers not only in economics, but also in sociology and anthropology. Well-informed critics of capitalism should also find it to be useful.
Author | : Bruce G. Carruthers |
Publisher | : John Wiley & Sons |
Total Pages | : 284 |
Release | : 2013-05-03 |
Genre | : Business & Economics |
ISBN | : 0745655343 |
This book offers a fresh and uniquely sociological perspective on money and credit. As basic economic institutions, money and credit are easy to overlook when they work well. When they malfunction, as they did in the new millennium’s global financial crisis, their importance becomes obvious and demands further investigation. Bruce Carruthers and Laura Ariovich examine the social dimensions of money and credit at both the individual and corporate levels, from the development of personal credit and a consumer society, to the role of government in the creation of money. In clear prose, they illustrate how the overall future of the economy is governed by the financial system and the flow of capital into, and out of, firms operating in particular industrial sectors, as well as the social meanings money itself acquires and the ways people distinguish between “dirty” and “clean” money. This accessible and engaging book will be essential reading for upper-level students of economic sociology, and those interested in how the bills, coins and plastic in our pockets shape the world we live in.
Author | : Costas Lapavitsas |
Publisher | : Verso Books |
Total Pages | : 417 |
Release | : 2014-01-14 |
Genre | : Political Science |
ISBN | : 1781681414 |
Financialization is one of the most innovative concepts to emerge in the field of political economy during the last three decades, although there is no agreement on what exactly it is. Profiting Without Producing puts forth a distinctive view defining financialization in terms of the fundamental conduct of non-financial enterprises, banks and households. Its most prominent feature is the rise of financial profit, in part extracted from households through financial expropriation. Financialized capitalism is also prone to crises, none greater than the gigantic turmoil that began in 2007. Using abundant empirical data, the book establishes the causes of the crisis and discusses the options broadly available for controlling finance.
Author | : Tsuyoshi Yuki |
Publisher | : Springer Nature |
Total Pages | : 287 |
Release | : 2021-09-20 |
Genre | : Political Science |
ISBN | : 3030804089 |
This book provides a comprehensive overview of historical and international debates on the theory of “labor money” or “labor notes.” These debates exist in a triangular context of market socialism, communism (community-based socialism), and local currency, joining numerous socialists, anarchists, and Marx and Engels. Labor note theory encompasses theoretical, ideological, and practical doctrines aimed at designing a fair and desirable labor-based market or non-market economy by reforming the monetary and credit system. This theory was considered an unfeasible utopian idea in the context of orthodox Marxism, which is typically based on a historical study of surplus value doctrines. However, this book eschews Marx’s critique of “labor money” that limits the debate regarding a concrete alternative society, and instead proposes practical and gradual approaches to social reform by scrutinizing the primary sources of labor money theories and practical experiences and reconstructs their theoretical relationships.
Author | : Kaveh Boiveiri |
Publisher | : Cambridge Scholars Publishing |
Total Pages | : 260 |
Release | : 2016-06-22 |
Genre | : Philosophy |
ISBN | : 1443896446 |
This book is the result of a three-day conference held in April 2014 at the University of Montreal, Canada, discussing the relevance of the work of Hegel and Marx in today’s world, particularly with regard to the ecological, economic, political and anthropological crisis facing humanity. Accordingly, the book an exploration of the specific nature of the crisis we face both in our everyday lives and in the realm of theory. However, if indeed the necessity of a proper critique (Kritikos) is intimately linked to a state of crisis (Krisis), the conceptual frame necessary to produce such a critique may itself be in crisis. Among the vast number of critical oppositions to contemporary capitalism, what are the keys available to understand the present forms of human conditions, alienation and exploitation? Controversies and divisions among the different tendencies within the critical tradition tend to highlight the point that there is also a theoretical crisis, which prevents a proper diagnosis of the actual crisis, and prevents, in turn, a proper plan of action from being established. Looking back to Marx and Hegel allowed a return, if not to the sources, at least to two unavoidable influences among the various critical approaches to capitalism. Be it with or against Hegel and/or Marx, the criticisms of modernity, post-modernity and capitalism cannot neglect the shadows of these thinkers. Both Marx’s and Hegel’s philosophical, sociological and political enterprises must be linked historically to the will to diagnose and solve what they saw as the most important crises of their own time, from, in Hegel’s case, the spiritual crisis which followed the advent of modernity and its accompanying turmoil, to the social and political crisis caused by capitalism and the advent of a new industrial society, in Marx’s case. Both intellectual ventures are at every turn haunted by the notion of crisis. This book will appeal to anyone interested in Hegel’s and Marx’s philosophical and political theories. Not only does it provide the historical context necessary to understand properly the relation between Marx and Hegel, but it also places the relevance of their teachings for the contemporary reader in perspective.
Author | : Costas Lapavitsas |
Publisher | : Verso Books |
Total Pages | : 385 |
Release | : 2023-08-29 |
Genre | : Political Science |
ISBN | : 1839767863 |
Thinking beyond pandemic capitalism The health emergency that broke out in 2020 is a landmark event in the development of capitalism, confirming the underlying change signalled by the Great Crisis of 2007-9. The pandemic has catapulted the state to the centre of economic activity. However, a historic impasse is steadily becoming apparent at the core of the world economy Productive accumulation is flaccid, as both profitability and labour productivity are weak. Financialisation has entered a new phase, as “shadow banking” grew relative to other banks but is entirely dependent on the state. The power of the state derives from command over fiat money and can certainly deliver enormous boosts to aggregate demand, but that is not enough to tackle the weakness of the productive sector. The rise in inflation for the first time in forty years indicates the impasse. There is a transparent need for intervention on the supply side, directly challenging capitalist property rights. There is no evidence, however, that the ruling blocs in core countries would engage in such policies. The pandemic crisis also brought to the fore fresh divisions of core and periphery across the world economy. Imperialism has assumed new forms, spurred by globally active financial capital and internationalised productive capital. A renewed contest for hegemony has emerged as US power declined. The economic challenge of China will unfold steadily in the years ahead, intensifying political tensions and military rivalries. This book is the work of a research collective comprising authors from several parts of the world. It analyses these vital issues from the perspective of Marxist political economy and puts forth alternative anticapitalist proposals.
Author | : Christopher Payne |
Publisher | : Routledge |
Total Pages | : 249 |
Release | : 2012-07-26 |
Genre | : Business & Economics |
ISBN | : 1136493557 |
This book is an investigation into the economic policy formulation and practice of neoliberalism in Britain from the 1950s through to the financial crisis and economic downturn that began in 2007-8. It demonstrates that influential economists, such as F.A. Hayek and Milton Friedman, authors at key British think tanks such as the Institute of Economic Affairs and the Centre for Policy Studies, and important political figures of the Thatcher and New Labour governments shared a similar conception of the consumer. For neoliberals, the idea that consumers were weak in the face of businesses and large corporations was almost offensive. Instead, consumers were imagined to be sovereign agents in the economy, whose consumption decisions played a central role in the construction of their human capital and in the enabling of their aspirations. Consumption, just like production, came to be viewed as an enterprising and entrepreneurial activity. Consequently, from the early 1980s until the present day, it was felt necessary that banks should have the freedom to meet the borrowing needs of consumers. Credit rationing would be a thing of the past. Just like businesses, consumers and households could use debt to expand their stock of personal assets. By utilizing the method of French philosopher Michel Foucault this book provides an original analysis of the policy ideas and political speeches of key figures in the New Right, in government and at the Bank of England. And it addresses the key question as to why policy-makers both in Britain and the United States did little or nothing to stem rising consumer and household indebtedness, instead always choosing to see increasing house prices and homeownership as a positive to be encouraged.
Author | : Costas Lapavitsas |
Publisher | : BRILL |
Total Pages | : 331 |
Release | : 2016-11-21 |
Genre | : Political Science |
ISBN | : 9004272712 |
The collected papers of Costas Lapavitsas are a pathway to Marxist monetary theory, a field that continues to attract strong interest. The papers range far and wide, including markets and money, finance and the enterprise, power and money, the financialisation of capitalism, finance and profit, even money as art. Despite its breadth, the collection remains highly coherent. Money and finance are pre-eminent, even dominant, features of contemporary capitalism. Lapavitsas has been one of the first political economists to notice their ascendancy and to devote his research to it. He offers a resolutely Marxist perspective on contemporary capitalism while remaining conversant with the history of political economy, sensitive to mainstream economic theory, and fully aware of the empirical reality of financialisation.
Author | : Sebastian Felten |
Publisher | : Cambridge University Press |
Total Pages | : 283 |
Release | : 2022-03-10 |
Genre | : Business & Economics |
ISBN | : 1009116479 |
The Dutch Republic was an important hub in the early modern world-economy, a place where hundreds of monies were used alongside each other. Sebastian Felten explores regional, European and global circuits of exchange by analysing everyday practices in Dutch cities and villages in the period 1600-1850. He reveals how for peasants and craftsmen, stewards and churchmen, merchants and metallurgists, money was an everyday social technology that helped them to carve out a livelihood. With vivid examples of accounting and assaying practices, Felten offers a key to understanding the internal logic of early modern money. This book uses new archival evidence and an approach informed by the history of technology to show how plural currencies gave early modern users considerable agency. It explores how the move to uniform national currency limited this agency in the nineteenth century and thus helps us make sense of the new plurality of payments systems today.