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The Circulation of Bank Capital and the General Rate of Interest

Author

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  • Daniel E. Saros

    (Valparaiso University, Valparaiso, IN, USA)

Abstract

Marxian economists have long asserted the impossibility of discovering an economic law at work in capitalist economies that determines a natural rate of interest. Without contradicting Marx’s claim that it is competition in the money capital market that determines the interest rate, it is possible to identify the general rate of interest with greater precision. To make this argument, this article investigates the connection between two interlocking circuits of finance capital.JEL classification: B51; E11

Suggested Citation

  • Daniel E. Saros, 2013. "The Circulation of Bank Capital and the General Rate of Interest," Review of Radical Political Economics, Union for Radical Political Economics, vol. 45(2), pages 149-161, June.
    • Handle: RePEc:sae:reorpe:v:45:y:2013:i:2:p:149-161
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    More about this item

    Keywords

    bank capital; finance capital; general rate of interest; interest-bearing capital; market rate of interest;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian

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