This paper considers the nature and role of household indebtedness in contemporary banking and the current financial and economic crises. It offers a concise empirical exposition of the centrality of household lending and related financial services to leading banking institutions and to the...

This paper offers a characterisation of the distinctive content of production and consumption credit based on the Marxian framework of the circuit of capital and a distinctive approach to credit relations. All credit allocations contribute identically to present aggregate demand and to the...