<abstract xmlns="http://www.w3.org/1999/xhtml"><p> We explore a short run structural macroeconomic model with a focus on “the problem of financing economic development“ (Kaleçki, 1976). It is demonstrated that banks, in contrast to nonbanks, have a unique role to play in the production and circulation of commodities in a monetary economy. A case is made for class-based policy.</p></abstract>

We explore a short run structural macroeconomic model with a focus on “the problem of financing economic development“ (Kaleçki, 1976). It is demonstrated that banks, in contrast to nonbanks, have a unique role to play in the production and circulation of commodities in a monetary economy. A case is made for class-based policy.

A Heterodox Economics Critique of Financial Liberalization

Department of Economics, University of Mumbai, Vidyanagari, Mumbai 400 098, INDIA

Business Environment Group, Indian Institute of Management Lucknow, Lucknow 226, 013- Uttar Pradesh, INDIA

Journal of Heterodox Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"A Heterodox Economics Critique of Financial Liberalization"}

We explore a short run structural macroeconomic model with a focus on “the problem of financing economic development“ (Kaleçki, 1976). It is demonstrated that...

A Heterodox Economics Critique of Financial Liberalization

Published Online: Feb 19, 2016

Page range: 79 - 99

DOI: https://doi.org/10.1515/jheec-2015-0004

Keywords
The monetary circuit

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

A Heterodox Economics Critique of Financial Liberalization

Published Online: Feb 19, 2016

Page range: 79 - 99

DOI: https://doi.org/10.1515/jheec-2015-0004

KeywordsThe monetary circuit

© 2016

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
The monetary circuit