ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Ramaa VasudevanSubscribe to Ramaa Vasudevan

The Significance of Marx’s Theory of Money

The highly abstract formulation of Marx’s theory of money in Capital, Volume I is just the first step of a materialist analysis of concrete monetary phenomena. His concrete analysis of monetary phenomena in Capital, Volume III has remarkable resonance in today’s world. While Marx emphasised the primacy of production, he saw capitalist dynamics as being deeply entwined with money and finance.

The Left and the Crisis

Socialist Register 2012: The Crisis and the Left edited by Leo Panitch, Greg Albo and Vivek Chibber (New Delhi: Leftword Books), 2011; pp 315, Rs 350.

The Global Meltdown: Financialisation, Dollar Hegemony and the Sub-prime Market Collapse

An exploration of the roots of the current credit crisis in the process of financialisation, where profit-making occurs increasingly through financial channels rather than through trade and commodity production. This process and the explosion of private financial flows globally helped the United States preserve and establish its pivotal place at the centre of the international financial markets after the collapse of the Bretton Woods arrangements in 1973. It argues that the mechanisms that helped sustain growing global imbalances and preserve the role of the dollar as international money are under threat in the current crisis.

Debt, Hegemony and Globalisation

highlights certain important differences in the two periods of globalisation. Hege- Debt, Hegemony mony in the earlier phase was exercised through
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