About this article
Published Online: Feb 19, 2016
Page range: 79 - 99
DOI: https://doi.org/10.1515/jheec-2015-0004
Keywords
© 2016
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.
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.