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Crypto-Currencies: From the Fetishism of Gold to Hayek Gold

  • Paulo Nakatani
  • Gustavo Moura de Cavalcanti Mello
Chapter
Part of the Marx, Engels, and Marxisms book series (MAENMA)

Abstract

Based on the Marxist perspective of money and particularly Marx’s analysis of the fetishism of money and capital, Nakatani and Mello grapple with the nature of crypto-currencies, especially Bitcoin, highlighting their explosive growth in 2017 as a part of the dynamics of the overaccumulation of capital, which has been circling the world for decades, particularly in financial markets, in search of new and old assets that might serve as the means for the appropriation of fictitious income and which have taken on the most foolish and fetishized forms.

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Paulo Nakatani
    • 1
  • Gustavo Moura de Cavalcanti Mello
    • 1
  1. 1.Department of Economics and Post-Graduate Programme in Social PolicyFederal University of Espírito Santo (UFES)VitóriaBrazil

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