‘Can “It” Happen Again: The Limits of Money Artistry’

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Ivanova, Maria N. 2011. ‘Can “It” Happen Again: The Limits of Money Artistry’. Critique, 39(2), pp. 211-232. ISSN 0301-7605 [Article]

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Official URL: http://www.tandfonline.com/doi/abs/10.1080/0301760...

Abstract or Description

This article takes issue with two of the most enduring articles of faith of postwar capitalism: (1) the belief that the crisis-prone nature of the latter can be managed by means of ‘money artistry’, that is, by the manipulation of money, credit and (government) debt; and (2) the assertion that such actions are beneficial for society as a whole and, in particular, for the working majority of the population whose ‘welfare’ is thus attended to by government action. Starting with an analysis of theoretical attempts to reform capitalism by tinkering with money and financial institutions, the paper challenges the crisis-management paradigm which enshrines Big Government's deficits and Big Bank's ‘extra-market refinancing’ as perpetual props of the ‘unstable’, unemployment-ridden economy, and considers the case for an ongoing ‘permanent crisis’ of US capitalism.

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Article

Identification Number (DOI):

https://doi.org/10.1080/03017605.2011.561628