Financial Structures: Indebtedness and Credit

Our subject is debt, credit and the rate of interest in Keynesian theory and the significance of these variables for economic policy. A particular interest is the significance of the financial structure — i.e., the impact of the particular set of financial institutions and financial relations that exist upon the behaviour of the economy. Modern capitalism is a system in which financial relations are of particular importance in determining what happens. An understanding of the movements in calendar time of contemporary capitalisms depends upon understanding the behaviour and evolution of financial practices and structures.