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2月, 2023の投稿を表示しています

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Turnover of industrial capital, commercial and bank credit: modern Unoist approach 1 Introduction

  1. Introduction Much of Marx’s theory of money and credit is based on gold money. It is therefore understandable that endogenous money supply theories (EMSTs), such as the Monetary Circuit Theory (MTC), criticize Marx’s approach as well as the neoclassical view, which they regard as a barter theory. EMSTs argue that money is created "from nothing" (ex nihilo) by bank credit. However, this argument has two problems. First, EMSTs assume not only that money is created from nothing, but also that banks themselves somehow emerge from nothing. Second, banks always assess the creditworthiness of borrowers, which is based on the commodity value of the borrowers’ assets. Since borrowers hold assets expected to be sold in the future, credit money is not issued from nothing—it is issued in anticipation of money returning from commodity sales. Kozo Uno explained the logical emergence of bank credit from idle money capital during the turnover of industrial capital (Uno 1980, 109). Bui...

【新しい地代論5】特別利潤から本源的自然力タイプ2への論理展開:本源的自然量の所有と利用における結合と分離(3月13日少し修正)

【新しい地代論4】本源的自然力タイプ2(知識など)の地代には絶対地代しかない

【新しい地代論3】本源的自然力への固定資本投下と本源的自然力の恒久的改良(3月12日修正)