Suchergebnisse

The financial intermediation system has been characterized by the emergence of new subjects and instruments modifying its organization. The development of the shadow banking system parallel to the traditional one has led to the demand, during the recent period of financial crisis, for a more efficient control to weather the growing systemic risk. This changing context leads the Author to consider some essential profiles of the monetary nature of the capitalist economy. Specifically, a need is perceived to reinterpret recent events in the light of the credit nature of money and the endogenous character of its supply, aspects on which scholars of the Keynesian school have long focused their attention. The Author considers particularly useful the indications deriving from the monetary production theory, especially with reference to the distinction among the various forms of financing, to understand such changes and adopt suitable strategies to handle them.