Foucault News

News and resources on French thinker Michel Foucault (1926-1984)

Eduardo Rivera Vicencio, Monetary conformation of the corporate governmentality III Description of the monetary system, Eurasian Journal of Economics and Finance, 4(2), 2016, 18-41

DOI: 10.15604/ejef.2016.04.02.003

Full PDF available

Abstract
This paper describes the current monetary system, identifying different components and the relationship between them. It is part of the Foucaultian approach of power relations and forms part of a body of work on the monetary conformation of corporate governmentality. It also forms part of the theoretical framework: the general monetary theory and, in particular, the quantity theory of money and the theory of business cycles. It describes four major components such as international organizations with effects on the money supply, states from dominant or dominated economies, the economy of large financial and non-financial companies and the real economy, made up of families and small and medium size companies. Within these four main components, there are different levels of action and influence in the money supply. The relationships, that are addressed, are the relationships which occur within each one of the components and the relationships between the different components. In these relationships between components of the monetary system, the creation of excess money supply is explained which produced the economic crisis as a result of the structure of the monetary system and its historical conformation. This document also describes the conformation of rent appropriation and yields, together with the process of the concentration of wealth, where the monetary system acts as an essential tool for achieving these purposes by large companies.

Keywords:
Monetary System, Rent Appropriation, Concentration of Wealth, Corporate Governmentality, Monetary Theory, Quantity Theory of Money, Money Supply and Crisis.

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