Reproduction Process and the Accumulation of Money Capital

Abstract

In this paper, we consider some premises on the the theory of monetary crisis. We can not accept the thesis that all crises appear as monetary crisis. We regard it as one of the manifestation of economic crisis in general ; it is the problem here to make clear the logical structure of the manifestation of crisis in the credit system. This is indispensable to the capitalist mode of production, among others, to the movement of industrial capital. The credit system not only submits to the industrial capital, but affects to it. Process of the affection manifests intself in the development of the accumulation of money capital in accordance with the each stages of the credit forms (commercial credit → banking credit). It is achieved in the money market being regulated by interest rate. The accumulation of money capital mainly consists of banking capital accumulation which works to the profitability of banking, thus interest rate affects to the banking capital movement. In this movement we find the actual relation of credit system to the reproduction process. "The balanced rate of interest" becomes a criterion in this analysis by which we can understand the structure of the relation.