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Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists think of capital as an economic entity that they count in universal units of utils and abstract labour, respectively. But these units...
Persistent link: https://www.econbiz.de/10011644571
about a financial crisis, they don’t speak about it in isolation. They refer to finance not in and of itself, but in … relation to the so-called real capital stock. The recent crisis, they argue, happened not because of finance as such, but due … to a mismatch between financial and real capital. The world of finance, they complain, has deviated from and distorted …
Persistent link: https://www.econbiz.de/10011644650