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

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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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.

Item Type:

Article

Identification Number (DOI):

https://doi.org/10.1080/03017605.2011.561628

Departments, Centres and Research Units:

Politics

Dates:

DateEvent
2011Published

Item ID:

12554

Date Deposited:

10 Aug 2015 14:24

Last Modified:

30 Jun 2017 10:45

Peer Reviewed:

Yes, this version has been peer-reviewed.

URI:

http://research.gold.ac.uk/id/eprint/12554

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