The paper proposes a framework for a formal discussion of the sources of revenues which can be attributed to financial capital. The framework refers to individual units (firms, households, state institutions) and therefore allows for a representation of ownership relations. The framework...

The paper argues that an important contribution of private banks to the expansion of government debts, and thereby to the increase in the money supply, is based on their being mediators of government expenditures. In order to develop the argument the paper distinguishes between two money...