Karl Marx: Profiled People in Economics and Banking

Executive Summary

• Karl Marx was a political economy theorist. He was lesser known for his views on banking.

Introduction

Marx had some strongly negative views of private banking as is expressed in the following quotation.

“By means of the banking system the distribution of capital as a special business, a social function, is taken out of the hands of the private capitalists and usurers. But at the same time, banking and credit become the most effective means of driving capitalist production beyond its own limits and one of the most effective vehicles of crises and swindle.” ~ Karl Marx / AZ Quotes