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Global Capital, National State and the Politics of Money pp 178–209Cite as

Palgrave Macmillan

Money, Equality and Exploitation: An Interpretation of Marx’s Treatment of Money

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Abstract

Since the deregulation of the international money markets in 1971 and 1973, money has emerged as a central axis of class conflict. Throughout the world, governments have responded to the shift from fixed to flexible exchange rates with policies of tight money. However, beginning with the recession of the early 1980s, developing through the ‘debt crisis’ of the 1980s, the recession of the early 1990s signals the failure of a politics of state austerity. Although the crash of 1987 and the recession of the early 1990s bear comparison with the inter-war period, it does not necessarily follow that the outcome of this crisis will match that of the 1930s. But can parallells be dismissed so easily?

Many people have provided helpful comments on the chapter: my particular thanks to Peter Burnham, John Holloway and Richard Gunn.

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Authors
  1. Werner Bonefeld
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Editor information

Editors and Affiliations

  1. University of York, UK

    Werner Bonefeld (Lecturer in Politics) (Lecturer in Politics)

  2. University of Edinburgh, UK

    John Holloway (Lecturer in Politics, Professor) (Lecturer in Politics, Professor)

  3. Instituto de Ciencias Sociales y Humanidades, Universidad Autónoma de Puebla, Mexico

    John Holloway (Lecturer in Politics, Professor) (Lecturer in Politics, Professor)

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© 1996 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Bonefeld, W. (1996). Money, Equality and Exploitation: An Interpretation of Marx’s Treatment of Money. In: Bonefeld, W., Holloway, J. (eds) Global Capital, National State and the Politics of Money. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-14240-8_8

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