Department of Economics

Professor Costas Lapavitsas

Key information

Roles: Department of Economics Professor of Economics Japan Research Centre Academic Staff, Japan Research Centre Steering Committee Member Programme Convenor - MSc Convenor
Department: Department of Economics
Qualifications: BSc (Econ), MSc (Econ), PhD (London)
Building: Russell Square: College Buildings
Office: 269
Email address: cl5@soas.ac.uk
Telephone number: 020 7898 4538

Research interests

Theory of banking and finance
History of economic thought
Japanese financial system

PhD Supervision

Name	Title
Matteo Giordano	Subordination in the EMU: A Monetary Theory of Core-Periphery Structure and Subordinate Integration in a Monetary Union.
Hwanhee Bae	Political Economy of Financialisation in South Korea: Shifting Patterns of Working-Class Engagement in Finance and Class Reproduction.
Mr Young Joon Hann	Financialisation Transformation of Australian Household Economy: Credit Card Debt Defaulters Research
Alkim Kiziltug	The Political Economy of World Money
Yuning Shi	Financialisation of Chinese Economy (working title)
Yuning Shi	Financialisation of the Chinese economy.

Publications

The return of inflation and the weakness of the side of production

Lapavitsas, Costas, 2022, The Japanese Political Economy (48), 2/4, pp 149-169

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Financialisation in developing countries: approaches, concepts, and metrics

Lapavitsas, Costas and Soydan, Aylin, 2022, International Review of Applied Economics (36), 3, pp 424-447

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Political Economy of the Greek Crisis

Lapavitsas, Costas, 2018, Review of Radical Political Economics (51), 1, pp 31-51

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The Redenomination Risk of Exiting the Eurozone: An Estimation Based on the Greek Case

Lapavitsas, Costas, 2018, European Law Journal (24), 2-3, pp 226-243

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Financialisation at a Watershed in the USA

Lapavitsas, Costas and Mendieta-Muñoz, Ivan, 2018, Competition and Change (22), 5, pp 488-508

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A Socialist Strategy for Europe

Lapavitsas, Costas, 2018, Catalyst: A Journal of Theory and Strategy (1), 3

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Il fallimento dell’Eurozona e il ruolo delle politiche tedesche [The failure of the Eurozone and the role of German policies]

Lapavitsas, Costas, Mariolis, Theodore and Gavrielidis, Constantinos, 2017, Il Ponte (5-6), May-June, pp 105-133

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Eurozone Failure, German policies, and a New Path for Greece: Policy Analysis and Proposals

Lapavitsas, Costas, Mariolis, Theodore and Gavrielidis, Constantinos, 2017, Rosa Luxemburg Stiftung Publikationen, 3

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The Profits of Financialization

Lapavitsas, Costas and Mendieta-Muñoz, Ivan, 2016, Monthly Review: an independent socialist magazine (68), 3

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How to change the post-crash economy

Lapavitsas, Costas, Mason, Paul, Mazzucato, Mariana, Milne, Seumas and Chew, Ben, 2014, City (18), 2, pp 175-190

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The financialization of capitalism: ‘Profiting without producing’

Lapavitsas, Costas, 2013, City (17), 6, pp 792-805

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Default and Exit from the Eurozone: A Radical Left Strategy

Lapavitsas, Costas, 2012, Socialist Register (48), pp 288-297

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European Capitalism at a Crossroads [In French]

Lapavitsas, Costas, 2012, Actuel Marx, 51, pp 44-58

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Theorizing financialization

Lapavitsas, Costas, 2011, Work, Employment and Society (25), 4, pp 611-626

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Crisis en la Zona Euro: Perspectiva de un impago en la periferia y la salida de la moneda única común

Lapavitsas, Costas, Kaltenbrunner, Annina, Labrinidis, G., Lindo, Duncan, Meadway, J., Michell, Jo, Painceira, Juan Pablo, Pires, E., Powell, J., Stenfors, Alexis and Teles, Nuno, 2011, Revista de Economía Crítica (11), pp 131-171

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Eurozone crisis: beggar thyself and thy neighbour

Lapavitsas, Costas, Kaltenbrunner, Annina, Lindo, Duncan, Michell, Jo, Painceira, Juan Pablo, Pires, E., Powell, Jeff, Stenfors, Alexis and Teles, Nuno, 2010, Journal of Balkan and Near Eastern Studies (12), 4, pp 321-373

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The Roots of the Global Financial Crisis

Lapavitsas, Costas, 2009, Development Viewpoint, 28

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Financialised Capitalism: Crisis and Financial Expropriation

Lapavitsas, Costas, 2009, Historical Materialism (17), 2, pp 114-148

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The Crisis of Financialised Capitalism [In Greek]

Lapavitsas, Costas, 2009, Eneken (13), pp 7-23

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Financialisation, or the Search for Profits in Circulation

Lapavitsas, Costas, 2009, Economiaz (72), 3, pp 98-119

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Financialisation Embroils Developing Countries

Lapavitsas, Costas, 2009, Papeles de Europa (19), pp 108-139

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Globalization and Contemporary Banking: On the Impact of New Technology

Lapavitsas, Costas and Santos, Paulo dos, 2008, Contributions to Political Economy (27), pp 31-56

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Information and Trust as Social Aspects of Credit

Lapavitsas, Costas, 2007, Economy and Society (36), 3, pp 416-436

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Relations of Power and Trust in Contemporary Finance

Lapavitsas, Costas, 2006, Historical Materialism (14), 1, pp 129-154

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Social and Economic Underpinnings of Industrial Development: Evidence from Ottoman Macedonia

Lapavitsas, Costas, 2006, Journal of European Economic History (35), 3, pp 661-710

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The Emergence of Money in Commodity Exchange, or Money as Monopolist of the Ability to Buy

Lapavitsas, Costas, 2005, Review of Political Economy (17), 4, pp 549-569

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The Social Relations of Money as Universal Equivalent: A Response to Ingham

Lapavitsas, Costas, 2005, Economy and Society (34), 3, pp 389-403

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Commodities and Gifts: Why Commodities Represent More than Market Relations

Lapavitsas, Costas, 2004, Science and Society (68), 1, pp 33-56

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Hilferding’s Theory of Banking in the Light of Steuart and Smith

Lapavitsas, Costas, 2004, Research in Political Economy (21), pp 161-80

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Transforming the Transformation Problem: Why the "New Interpretation" is a Wrong Turning

Fine, Ben, Saad Filho, Alfredo and Lapavitsas, Costas, 2004, Review of Radical Political Economics (36), 1, pp 3-19

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Social Capital and Capitalist Economies

Fine, Ben and Lapavitsas, Costas, 2004, South-Eastern Europe Journal of Economics (2), 1, pp 17-34

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Review of "Markets from Networks: Socioeconomic Models of Production" by Harrison C. White

Lapavitsas, Costas, 2002, Enterprise and Society (3), 3, pp 547-549

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What Kind of Theoretical Journal is Necessary for the Left Today?

Lapavitsas, Costas, 2002, Greek, Theseis (vol. n), pp 17-20

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Globalisation and the Imperative of Economic Control

Lapavitsas, Costas, 2002, Greek, Theseis (vol. n), pp 23-42

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The Recent Turkish Crisis: Another Step Toward Free Market Authoritarianism

Lapavitsas, Costas, 2001, Theseis (77), pp 99-115

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The Recent Turkish Crisis: Another Step Toward Free Market Authoritarianism

Lapavitsas, Costas, 2001, Historical Materialism (8), 1, pp 297-308

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The Recent Turkish Crisis: Another Step Toward Free Market Authoritarianism

Lapavitsas, Costas, 2001, Iktisat (416), pp 52-58

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The Supply of Credit Money and Capital Accumulation: A Critical View of Post-Keynesianism

Lapavitsas, Costas and Saad Filho, Alfredo, 2000, Research in Political Economy (18), pp 309-333

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On Marx's Analysis of Money Hoarding in the Turnover of Capital

Lapavitsas, Costas, 2000, Review of Political Economy (12), 2, pp 219-235

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Markets and Money in Social Theory: What Role for Economics?

Fine, Ben and Lapavitsas, Costas, 2000, Economy and Society (29), 3, pp 357-382

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The Supply of Credit Money and Capital Accumulation: A Critical View of Post Keynesian Analysis

Saad Filho, Alfredo and Lapavitsas, Costas, 2000, Research in Political Economy (18), pp 309-334

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Money and the Analysis of Capitalism: The Significance of Commodity Money

Lapavitsas, Costas, 2000, Review of Radical Political Economics (32), 4, pp 631-656

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Addressing the World Economy: Two Steps Back

Fine, Ben, Lapavitsas, Costas and Milonakis, Dimitris, 1999, Capital and Class (23), 1, pp 47-90

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The Horizontalist Theory of Money and Credit: a Critical Analysis

Saad Filho, Alfredo and Lapavitsas, Costas, 1999, Estudos Econômicos (29), 1, pp 23-46

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The Political Economy of the Central Banks:Agents of Stability or Source of Instability?

Lapavitsas, Costas, 1997, International Papers in Political Economy (4), pp 1-52

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Two Approaches to the Concept of Interest-Bearing Capital

Lapavitsas, Costas, 1997, International Journal of Political Economy (27), 1, pp 85-106

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The Classical Adjustment Mechanism of International Balances: Marx''s Critique

Lapavitsas, Costas, 1996, Contibutions to Political Economy (Annual Supplement to the Cambridge Journal of Economics) (15), 1, pp 63-79

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Money

Lapavitsas, Costas (2017). In: Brennan, David M., (eds.), Kristjanson-Gural, David, (eds.) and Mulder, Catherine P., (eds.), Routledge Handbook of Marxian Economics. Abingdon; New York: Routledge

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Confronting the Failure of the European Monetary Union

Lapavitsas, Costas (2015). In: Jäger, Johannes, (eds.) and Springler, Elisabeth, (eds.), Asymmetric Crisis in Europe and Possible Futures : Critical Political Economy and Post-Keynesian Perspectives. Abingdon; New York: Routledge, pp 131-147

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Die (Im)Materialität der Ökonomie [The (Im)materiality of the Economy]

Lapavitsas, Costas (2014). In: Witzgall, Susanne, (eds.) and Stakemeier, Kerstin, (eds.), Macht des Materials/Politik der Materialität. Zürich-Berlin: Diaphanes, pp 199-207

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Financialisation and capitalist accumulation: A structural account of the crisis of 2007-9

Lapavitsas, Costas (2013). In: Yagi, K., (eds.), Yokokawa, N., (eds.), Hagiwara, S., (eds.) and Dymski, Gary, (eds.), Crises of Global Economies and the Future of Capitalism. Abingdon; New York: Routledge, pp 55-74

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The Eurozone Crisis through the Prism of World Money

Lapavitsas, Costas (2013). In: Wolfson, M., (eds.) and Epstein, J., (eds.), The Handbook of the Political Economy of Financial Crises. Oxford; New York: Oxford University Press, pp 378-394

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Financialised Capitalism: Crisis and Financial Expropriation

Lapavitsas, Costas (2012). In: Lapavitsas, Costas, (ed.), Financialisation in Crisis. Leiden; Boston: Brill, pp 15-50

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Introduciton: A Crisis of Financialisation

Lapavitsas, Costas (2012). In: Lapavitsas, Costas, (ed.), Financialisation in Crisis. Leiden; Boston: Brill, pp 1-12

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Industrial Development and Social Transformation in the Ottoman Empire

Lapavitsas, Costas (2011). In: Lapavitsas, Costas, (ed.), Fragile Capitalism: Macedonia during the Late Ottoman Period [In Greek]. Athens: Novoli Press, pp 21-76

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Money as Money and Money as Capital in a Capitalist Economy

Lapavitsas, Costas (2003). In: Saad Filho, Alfredo, (ed.), Anti-Capitalism: A Marxist Guide. London: Pluto Press, pp 59-72

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Neither the Washington nor the Post-Washington Consensus: Development at the Crossroads

Lapavitsas, Costas (2001). In: Lapavitsas, Costas, (eds.), Fine, Ben, (eds.) and Pincus, Jonathan, (eds.), Development policy in the 21st century: beyond the post-Washington consensus. London: Routledge

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The Political Economy of the Central Banks: Agents of Stability or Source of Instability?

Lapavitsas, Costas (2001). In: Arestis, Philip, (eds.) and Sawyer, Malcolm, (eds.), Money, Finance and Capitalist Development. London: Edward Elgar, pp 179-219

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Financial System Design and the Post-Washington Consensus

Lapavitsas, Costas and Aybar, S. (2001). In: Lapavitsas, Costas, (eds.), Fine, Ben, (eds.) and Pincus, Jonathan, (eds.), Development Policy in the Twenty-First Century: Beyond the Post-Washington Consensus. London: Routledge, pp 28-51

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The Supply of Credit Money and Capital Accumulation : A Critical View of Post Keynesian Analysis

Saad Filho, Alfredo and Lapavitsas, Costas (2000). In: Zarembka, Paul, (ed.), Research in Political Economy. Bingley: Emerald, pp 309-334

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Capitalism in the Ottoman Balkans : industrialisation and modernity in Macedonia

Lapavitsas, Costas and Cakiroglu, P. (2019). London, UK: (I.B. Tauris)

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The Left Case against the EU

Lapavitsas, Costas (2018). Cambridge, UK: (Polity Press)

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Euro, plan B: sortir de la crise en Grèce, en France et en Europe

Lapavitsas, Costas, Flassbeck, Heiner, Durand, Cédric, Etievant, Guillaume and Lordon, Frédéric (2016). Paris: (Editions du Croquant)

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Against the Troika: Crisis and Austerity in the Eurozone

Flassbeck, Heiner and Lapavitsas, Costas (2015). London; New York: (Verso)

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Λέξη προς λέξη: Κείμενα για την Ελληνική Κρίση 2010-2013 = Lexē pros lexē : keimena gia tēn ellēnikē krisē, 2010-2013

Lapavitsas, Costas (2014). Athens: (Topos Press)

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Profiting without Producing: How Finance Exploits Us All

Lapavitsas, Costas (2013). London: (Verso)

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Crisis and a Left Way Out [In Greek]

Lapavitsas, Costas and Kouvelakis, Stathis (2012). Athens: (Livanis Press)

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Breaking Up? A Radical Route Out of the Eurozone Crisis [In Greek]

Lapavitsas, Costas, Kaltenbrunner, Annina, Lindo, Duncan, Meadway, J., Michell, Jo, Painceira, Juan Pablo, Pires, E., Powell, J., Stenfors, Alexis and Teles, Nuno (2012). Athens: (Livanis Press)

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Crisis in the Eurozone

Lapavitsas, Costas, Kaltenbrunner, Annina, Lambrinidis, G., Lindo, Duncan, Meadway, J., Michell, Jo, Painceira, Juan Pablo, Powell, J., Pires, E., Stenfors, Alexis, Teles, Nuno and Vatikiotis, L. (2012). London: (Verso)

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2010, krisi eurozonis = 2010, κρίση ευρωζώνης

Lapavitsas, Costas, Kaltenbrunner, Annina, Lambrinidis, G., Lindo, Duncan, Michell, Jo, Painceira, Juan Pablo, Pires, E., Powell, J., Stenfors, Alexis and Teles, Nuno (2010). Athens: (Novoli Press)

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The Eurozone between Austerity and Default [In Greek]

Lapavitsas, Costas, Kaltenbrunner, Annina, Lambrinidis, G., Lindo, Duncan, Meadway, J., Michell, Jo, Painceira, Juan Pablo, Pires, E., Powell, J., Stenfors, Alexis and Teles, Nuno (2010). Athens: (Livanis Press)

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Financialised Capitalism: Expansion and Crisis [In Spanish]

Lapavitsas, Costas (2009). Madrid: (Maia Ediciones)

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Social Foundations of Markets, Money and Credit

Lapavitsas, Costas (2003). London: (Routledge)

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Political Economy of Money and Finance

Lapavitsas, Costas (1999). Basingstoke: (Macmillan)

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Marxist Monetary Theory: Collected Papers of Costas Lapavitsas

Lapavitsas, Costas, (ed.) (2016). Leiden: Brill. (Historical Materialism Book Series; 134)

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Financialisation in Crisis

Lapavitsas, Costas, (ed.) (2012). Leiden; Boston: Brill. (Historical Materialism Book Series)

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Ισχνός Καπιταλισμός: Η Μακεδονία κατά την ύστερη οθωμανική περίοδο

Lapavitsas, Costas, (ed.) (2011). Athens: Novoli Press.

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Development policy in the 21st century: beyond the post-Washington consensus

Fine, Ben, (eds.), Lapavitsas, Costas, (eds.) and Pincus, Jonathan, (eds.) (2001). London: Routledge.

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The Crisis of Financialised Capitalism: Highlighting the Urgent Need for Public Banks

Lapavitsas, Costas (2010). London: (Centre for Development Policy and Research, Development Viewpoint 47)

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Social origins of Ottoman industrialisation: Evidence from the Macedonian town of Naoussa

Lapavitsas, Costas (2004). London, UK: (SOAS Department of Economics Working Paper No. 142)

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Money as a 'Universal equivalent' and its origin in commodity exchange

Lapavitsas, Costas (2003). London: (SOAS Department of Economics Working Paper No. 130)

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Banks and the Design of the Financial System: Underpinnings in Steuart, Smith and Hilferding

Lapavitsas, Costas (2002). London: (SOAS Department of Economics Working Paper No. 128)

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Contact Costas

Email: cl5@soas.ac.uk
Telephone: 020 7898 4538

Professor Costas Lapavitsas

Key information

Research interests

PhD Supervision

Publications

Contact Costas

Department of Economics

Careers: At SOAS I felt I didn't have to explain myself

BSc Economics

Professor Costas Lapavitsas

Key information

Research interests

PhD Supervision

Publications

Articles Open

The return of inflation and the weakness of the side of production

Financialisation in developing countries: approaches, concepts, and metrics

Political Economy of the Greek Crisis

The Redenomination Risk of Exiting the Eurozone: An Estimation Based on the Greek Case

Financialisation at a Watershed in the USA

A Socialist Strategy for Europe

Il fallimento dell’Eurozona e il ruolo delle politiche tedesche [The failure of the Eurozone and the role of German policies]

Eurozone Failure, German policies, and a New Path for Greece: Policy Analysis and Proposals

The Profits of Financialization

How to change the post-crash economy

The financialization of capitalism: ‘Profiting without producing’

Default and Exit from the Eurozone: A Radical Left Strategy

European Capitalism at a Crossroads [In French]

Theorizing financialization

Crisis en la Zona Euro: Perspectiva de un impago en la periferia y la salida de la moneda única común

Eurozone crisis: beggar thyself and thy neighbour

The Roots of the Global Financial Crisis

Financialised Capitalism: Crisis and Financial Expropriation

The Crisis of Financialised Capitalism [In Greek]

Financialisation, or the Search for Profits in Circulation

Financialisation Embroils Developing Countries

Globalization and Contemporary Banking: On the Impact of New Technology

Information and Trust as Social Aspects of Credit

Relations of Power and Trust in Contemporary Finance

Social and Economic Underpinnings of Industrial Development: Evidence from Ottoman Macedonia

The Emergence of Money in Commodity Exchange, or Money as Monopolist of the Ability to Buy

The Social Relations of Money as Universal Equivalent: A Response to Ingham

Commodities and Gifts: Why Commodities Represent More than Market Relations

Hilferding’s Theory of Banking in the Light of Steuart and Smith

Transforming the Transformation Problem: Why the "New Interpretation" is a Wrong Turning

Social Capital and Capitalist Economies

Review of "Markets from Networks: Socioeconomic Models of Production" by Harrison C. White

What Kind of Theoretical Journal is Necessary for the Left Today?

Globalisation and the Imperative of Economic Control

The Recent Turkish Crisis: Another Step Toward Free Market Authoritarianism

The Recent Turkish Crisis: Another Step Toward Free Market Authoritarianism

The Recent Turkish Crisis: Another Step Toward Free Market Authoritarianism

The Supply of Credit Money and Capital Accumulation: A Critical View of Post-Keynesianism

On Marx's Analysis of Money Hoarding in the Turnover of Capital

Markets and Money in Social Theory: What Role for Economics?

The Supply of Credit Money and Capital Accumulation: A Critical View of Post Keynesian Analysis

Money and the Analysis of Capitalism: The Significance of Commodity Money

Addressing the World Economy: Two Steps Back

The Horizontalist Theory of Money and Credit: a Critical Analysis

The Political Economy of the Central Banks:Agents of Stability or Source of Instability?

Two Approaches to the Concept of Interest-Bearing Capital

The Classical Adjustment Mechanism of International Balances: Marx''s Critique

Book sections Open

Money

Confronting the Failure of the European Monetary Union

Die (Im)Materialität der Ökonomie [The (Im)materiality of the Economy]

Financialisation and capitalist accumulation: A structural account of the crisis of 2007-9

The Eurozone Crisis through the Prism of World Money

Financialised Capitalism: Crisis and Financial Expropriation

Introduciton: A Crisis of Financialisation

Industrial Development and Social Transformation in the Ottoman Empire

Money as Money and Money as Capital in a Capitalist Economy

Neither the Washington nor the Post-Washington Consensus: Development at the Crossroads

The Political Economy of the Central Banks: Agents of Stability or Source of Instability?

Financial System Design and the Post-Washington Consensus

The Supply of Credit Money and Capital Accumulation : A Critical View of Post Keynesian Analysis

Books Open

Capitalism in the Ottoman Balkans : industrialisation and modernity in Macedonia

The Left Case against the EU

Euro, plan B: sortir de la crise en Grèce, en France et en Europe

Against the Troika: Crisis and Austerity in the Eurozone

Λέξη προς λέξη: Κείμενα για την Ελληνική Κρίση 2010-2013 = Lexē pros lexē : keimena gia tēn ellēnikē krisē, 2010-2013

Profiting without Producing: How Finance Exploits Us All

Crisis and a Left Way Out [In Greek]

Breaking Up? A Radical Route Out of the Eurozone Crisis [In Greek]

Crisis in the Eurozone

2010, krisi eurozonis = 2010, κρίση ευρωζώνης

The Eurozone between Austerity and Default [In Greek]

Financialised Capitalism: Expansion and Crisis [In Spanish]