Monetary Expansionism, Global Commodity Prices, and Global Inequality

Monetary Expansionism, Global Commodity Prices, and Global Inequality
Kim, Jongchul. (2025). World Review of Political Economy. Vol. 16. No. 1, Spring. pp. 105-136. (Article - Journal; English).

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Alternative Locations

https://www.scienceopen.com/hosted-document?doi=10.13169/worlrevipoliecon.16.1.0105, https://www.econstor.eu/handle/10419/314455, https://capitalaspower.com/2025/04/kim-monetary-expansionism-global-commodity-prices-and-global-inequality/, https://yorkspace.library.yorku.ca/items/c002cbfd-0853-4716-94d8-91cb1b45f962

Abstract or Brief Description

An early analysis of the imperialist implications of the surge of global commodity prices was conducted in 2014 by Jonathan Nitzan and Shimshon Bichler. However, their analysis did not consider how the US monetary and fiscal expansionist policies have contributed to the rise of global commodity prices. This article fills this gap. Arguably, under the current international fiat money system established in the early 1970s, the US has had the opportunity to use artificial money-creation mechanisms to enjoy the wealth produced by people outside the US without cost. This article argues that the US monetary and fiscal expansionist policies, including quantitative easing, are cases where the US takes advantage of such an opportunity and that the free transfer of wealth is a cause of the surge in global commodity prices.

Language

English

Publication Type

Article - Journal

Keywords

capital as power commodities fiscal policy imperialism inflation monetary policy money prices United States

Subject

BN International & Global
BN Money & Finance
BN Policy
BN Region - North America
BN State & Government
BN Value & Price
BN War & Peace
BN Business Enterprise
BN Capital & Accumulation
BN Comparative
BN Conflict & Violence
BN Crisis
BN Distribution
BN Institutions

Depositing User

Jonathan Nitzan

Date Deposited

31 Mar 2025 15:21

Last Modified

02 Apr 2025 19:18

URL:

https://bnarchives.net/id/eprint/856

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