Marx carried out the first full inquiry on the economics of the all-comprising circulation process of capital, first in Grundrisse in the late 1850s, and later in Capital and Theories of Surplus Value in the 1860s and the 1870s. Two substantial aspects are at the center of Marx's analysis: (a)...

A key issue in heterodox economics is the theoretical determination of the inner logic of the economic process through which the functional conditions of social reproduction are systematically recreated in capitalism. The monetary circuit is a particular moment of the economic process through...