Money in the World Crisis: The New Basis of Capitalist Power

Abstract

One of the major difficulties in analysing the current capitalist crisis and reorganization, whether on the national level or globally, lies in seeing how changes in the international monetary system fit in with changes at the level of the international division of labour and production. To approach this question we must grasp both the nature of the money-form as a social relationship of powerwithin capitalism and the historical specificity of the particular organizational forms of that power.

This article is the result of discussion and collaboration among a group of comrades linked to Zeroworkin London. John Merrington and Mike Sonenscher have made major contributions to the final result.