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The evolution of money as a point of the evolution of financial capital
https://doi.org/10.32609/0042-8736-2019-8-67-84
Abstract
Contemporary state of financial market, which acts in destabilizing way on the mechanism of capital reproduction, requires the theoretical understanding of the causes of this situation. The author approaches to the solution of this task from the position of Marxist theory of money and capital, considering the development of monetary economy under the capitalism as a consequence of the development of financial capital. Contemporary stage of this development is characterized as involution (“back” evolution, dissolution of fundamental relations or even degeneration). Both financial capital and monetary system in the conditions of late capitalism cannot exist without including into themselves the elements, which are contradicting the basis of capitalist system, but compensating the consequences of its decay.
Keywords
money,
golden standard,
symbol of value,
credit money,
capital,
financial capital,
fictitious capital,
derivatives,
virtual capital,
virtual money,
Marxism
JEL: E4; E5; G00; N10; N20; P16
About the Author
Andrey I. Kolganov
Lomonosov Moscow State University; Institute of Economics of Russian Academy of Sciences
Russian Federation
Moscow
Russian Federation
Moscow
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For citations:
Kolganov A.I. The evolution of money as a point of the evolution of financial capital. Voprosy Ekonomiki. 2019;(8):67-84. (In Russ.) https://doi.org/10.32609/0042-8736-2019-8-67-84
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