ABSTRACT

This chapter aims to reveal that which is hidden within the nebulous that is finance, and considers finance like an industry. Currency can be defined as an adherence-based relation for the members of one social group to this group as a whole. In a monetary economy of production, commercial relations are structured around debts, since the producers must borrow resources before converting these into new products that aspire to become values. Ever since the aftermath of financial crises began to persist in time, the macro-economy has once more been confronted with the issue of age-old stagnation. Finance is far from neutral when it comes to the economy. The macro-micro interdependency in the financial cycle leads us towards thinking about financial stability as a public asset that thus requires economic policies to define it.