Political Economy of Money, Credit and Finance in Contemporary Capitalism: Remarks on Lapavitsas and Dymski

Political Economy of Money, Credit and Finance in Contemporary Capitalism: Remarks on Lapavitsas... Historical Materialism , volume 14:1 (97–112) © Koninklijke Brill NV, Leiden, 2006 Also available online – www.brill.nl 1 Marx 1970, p. 20. Makoto Itoh Political Economy of Money, Credit and Finance in Contemporary Capitalism: Remarks on Lapavitsas and Dymski A characteristic of Marxian political economy is the theoretical elucidation of the history of capitalism, the latter being based on the market economy. In this respect, Marxian political economy must always be aware of historical materialism as ‘a guiding thread’. 1 The task of Marxian political economy, however, must also be relatively independent of particular ideological worldviews, and in its scientific research it should follow historical facts and the objective logic of capitalist market economies. At the same time, by elucidating the fundamentally anarchic and autonomous economic order that is grounded on the market economy, Marxian political economy can provide the scientific basis that underpins historical materialism, especially with regard to the distinction between, and the interrelations which link, the economic substructure and the non-economic superstructure of societies. However, the theoretical treatment of the history of capitalism is far from an easy task. For one thing, HIMA 14,1_f6_96-112II 3/29/06 3:30 PM Page 97 98 • Makoto Itoh the historical http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Historical Materialism Brill

Political Economy of Money, Credit and Finance in Contemporary Capitalism: Remarks on Lapavitsas and Dymski

Historical Materialism, Volume 14 (1): 97 – Jan 1, 2006

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Publisher
Brill
Copyright
© 2006 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1465-4466
eISSN
1569-206X
D.O.I.
10.1163/156920606776690974
Publisher site
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Abstract

Historical Materialism , volume 14:1 (97–112) © Koninklijke Brill NV, Leiden, 2006 Also available online – www.brill.nl 1 Marx 1970, p. 20. Makoto Itoh Political Economy of Money, Credit and Finance in Contemporary Capitalism: Remarks on Lapavitsas and Dymski A characteristic of Marxian political economy is the theoretical elucidation of the history of capitalism, the latter being based on the market economy. In this respect, Marxian political economy must always be aware of historical materialism as ‘a guiding thread’. 1 The task of Marxian political economy, however, must also be relatively independent of particular ideological worldviews, and in its scientific research it should follow historical facts and the objective logic of capitalist market economies. At the same time, by elucidating the fundamentally anarchic and autonomous economic order that is grounded on the market economy, Marxian political economy can provide the scientific basis that underpins historical materialism, especially with regard to the distinction between, and the interrelations which link, the economic substructure and the non-economic superstructure of societies. However, the theoretical treatment of the history of capitalism is far from an easy task. For one thing, HIMA 14,1_f6_96-112II 3/29/06 3:30 PM Page 97 98 • Makoto Itoh the historical

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Historical MaterialismBrill

Published: Jan 1, 2006

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