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The Credit System

In: The Culmination of Capital

Author

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  • Martha Campbell

Abstract

In describing the objective of Part 5 of Capital, Vol. III, Marx states that he is considering the credit system only to the extent ‘necessary to characterize the capitalist mode of production in general’ (1894: 525). As this indicates, the credit system is, in Marx’s view, so essential that no presentation of capital would be complete without it. It points also to a distinctive feature of Marx’s account, namely, that he derives the credit system from capital, which he initially presents as industrial capital by itself. That is, he appeals to the requirements and inherent tendencies of industrial capital to explain why the credit system evolves.1

Suggested Citation

  • Martha Campbell, 2002. "The Credit System," Palgrave Macmillan Books, in: Martha Campbell & Geert Reuten (ed.), The Culmination of Capital, chapter 9, pages 212-227, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59709-9_9
    DOI: 10.1057/9780230597099_9
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    Cited by:

    1. Charles M. Kahn & William Roberds, 2002. "Payments settlement under limited enforcement: Private versus public systems," FRB Atlanta Working Paper 2002-33, Federal Reserve Bank of Atlanta.

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