Issues in Marxian Theory of Money and Credit

Doug Henwood dhenwood at panix.com
Mon Mar 8 12:11:35 PST 1999


rc-am wrote:


>of course, credit has its other side, but only if payments are
>demanded in full rather than continually rescheduled (as they seem to
>be in a global sense), but - a specific question - is this
>catastrophic for capital or just a crisis for a particular regime of
>capital accumulation?

Is what catastrophic? Rescheduling? If rescheduling makes the "unsustainable" sustainable, then it perpetuates the regime of capital accumulation rather than letting the contradictions ripen to their fullest. And with every rescheduling usually comes a political concession or two.

Doug



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