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Monetary and Financial Aspects of the Business Cycle

In: Political Economy of Money and Finance

Author

Listed:
  • Makoto Itoh

    (Kokugakuin University)

  • Costas Lapavitsas

    (University of London)

Abstract

In the work of the classical school the capitalist economy represents a natural and harmonious social order. For Marx, on the other hand, the capitalist economy is inherently unstable. Economic instability has several monetary and financial aspects. The following three levels can be identified in Marx’s analysis of monetary and financial stability.

Suggested Citation

  • Makoto Itoh & Costas Lapavitsas, 1999. "Monetary and Financial Aspects of the Business Cycle," Palgrave Macmillan Books, in: Political Economy of Money and Finance, chapter 6, pages 123-153, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37578-9_6
    DOI: 10.1057/9780230375789_6
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    Cited by:

    1. Friedrich Thiessen, 2021. "Divestment, Fallstricke einer Nachhaltigkeitsstrategie," Chemnitz Economic Papers 052, Department of Economics, Chemnitz University of Technology, revised Oct 2021.

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