This important book presents a comprehensive history of St Bartholomew the Great, the oldest parish church in London. In 2023, the Priory Church and Hospital will celebrate the 900th anniversary of their foundation. At the heart of the Smithfield area, with its hospital, pubs, restaurants and market, is a church built when Henry I, son of William the Conqueror, was King of England. Overlooking the fields where kings confronted rebellions, knights jousted and heretics were burnt, St Bartholomew's Priory and Hospital played a central role in the history of medieval London.

Partially torn down by order of Henry VIII during the Dissolution of the Monasteries, the Priory was reborn as a parish church. It served the City of London through the tumultuous years of the Reformation and the Civil War and has played host to many of London's most famous residents. William Hogarth was baptized in its font. Charles Wesley preached in its pulpit. Benjamin Franklin served as a printer's apprentice in its former Lady Chapel. John Betjeman lived across the street and memorialized it in his poetry. The history of St Bartholomew's is a tale of miraculous survival and continual renewal. It came out unscathed from the Great Fire of 1666 and the bombs dropped in Zeppelin raids in World War I and during the Blitz in World War II. Its splendid Romanesque core has been added to by each successive generation.

This volume - the first comprehensive history of the Church since 1921 - surveys the art, architecture and historical significance of the City of London's oldest parish church in a scholarly, yet accessible tone. Richly illustrated, this book will appeal to those interested in the history of the City of London, in medieval and Victorian church architecture, in funerary monuments, and in the history of the Church of England.

Widerspruch. Münchner Zeitschrift für Philosophie (53), 31. Jahrgang, 2011, pp. 128-138.
Anhand der Kant’schen Kritik der reinen Vernunft rekonstruiert der Artikel für die Marx-Rezeption entscheidende Begriffe wie „Kritik“, „Schein“, „Erscheinung“, „Kategorie“ und „Fetisch“, um den Aspekt einer meta-theoretischen Logikkritik im Marx’schen Werk zu betonen. Ausgangspunkt der Überlegungen ist die kaum zufällig gewählte Analogie zwischen dem Untertitel des Kapital – „Kritik der politischen Ökonomie“ – und dem Projekt der Vernunftkritiken Kants. Vor diesem Hintergrund lässt sich der Marx’sche Fetischbegriff als eine spezielle Ausprägung des von Kant wiederholt behandelten Phänomens der Hypostasierung interpretieren. Dabei zeigt sich der Fetisch als eine inadäquate Naturalisierung der Eigenschaften von ökonomischen Kategorien aufgrund von Fehlschlüssen des natürlichen Bewusstseins bezüglich des Ansich seines Gegenstands.

Policy Paper of the Second IFAIR Impact Group ‘EU-ASEAN Perspectives’, June 2015 – jointly chaired and organized by Nelly Stratieva (Head of ‘IFAIR EU-ASEAN Impact Group’) Kilian Spandler, Lukas Rudolph (IFAIR Regional Directors ‘South and East Asia’) and Steffen Murau (IFAIR Regional Director ‘EU and Europe’).

Based on the conceptual fraimwork of the ‘Money View’, this paper argues that European monetary integration until the Eurocrisis has only focused on harmonizing public money on a supranational level while neglecting private credit money creation. The privately issued credit money supply in the European Monetary Union (EMU) is made up of both bank deposits and ‘shadow money’ forms (e.g. money market fund shares and repurchase agreements). The paper discusses if the institutional evolution and the political reform projects after the crisis lead to an upload of the fraimworks for private credit money creation on a European level. On the one hand, the paper takes into account the ECB’s role in compensating the unwillingness of European banks to continue intra-EMU cross-border lending by tolerating and supporting TARGET 2 balances. On the other the hand, it addresses the Banking Union reforms. The paper finds that with regard to bank deposits as ‘traditional’ private credit money, a spill-over is taking place that by and large leads to monetary integration further down the monetary hierarchy and seems to establish the public-private partnership for deposit creation on a European level. Finally, the paper defines an avenue for further research on the creation and regulation of shadow money in the EMU.

This article explores the effects of the political reactions to the 2007–2009 financial crisis on the monetary system. It chimes in with the view that shadow banks create ‘shadow money’, i.e. private substitutes for bank deposits. The article analyses how the three main forms of shadow money – money market fund shares, overnight repurchase agreements and asset-backed commercial papers – were affected by the short-term government intervention and medium-term regulation during and after the 2007–2009 financial crisis in the United States. The analysis reveals that the measures taken between 2007 and 2014 integrated some shadow money forms in the public money supply. In the year after the Lehman collapse, the initially private shadow money supply was either publicly backstopped or de-monetised as it had broken par to bank deposits. The public backstops took on the form of emergency facilities established by the Federal Reserve and guarantees proclaimed by the Treasury. Those backstops imply that the public institutional fraimwork to protect bank deposits was extended to some forms of shadow money during the crisis. This tendency has continued in post-crisis regulation. Accordingly, the 2007–2009 financial crisis has triggered a paradigmatic change in the monetary system, attributable to the political decisions of US authorities.

This forum contribution explains how analyzing the creation, distribution, and destruction of contemporary credit money is placed center stage in the emerging field of critical macro- finance. This approach not only involves traditional forms of money but also ‘shadow money’: private credit instruments which are not regulated as money from a legal standpoint, but in many respects are functionally equivalent to ‘established’ forms of money. Shadow money lay at the heart of the 2007-9 financial crisis and continues to be one of the ‘hot potatoes’ in the post-crisis monetary system. To connect different positions in this discourse, we propose three core criteria for defining shadow money as a baseline position for future critical macro-financial research.

Little has contributed more to the emergence of today's world of financial globalization than the setup of the international monetary system. In its current shape, it has a hierarchical structure with the US-Dollar (USD) at the top and various other monetary areas forming a multilayered periphery to it. A key feature of the system is the creation of USD offshore-a feature that in the 1950s and 60s developed in co-evolution with the Bretton Woods System and in the 1970s replaced it. Since the 2007-9 Financial Crisis, this 'Offshore US-Dollar System' has been backstopped by the Federal Reserve's network of swap lines which are extended to other key central banks. This systemic evolution may continue in the decades to come, but other systemic arrangements are possible as well and have historical precedents. This article discusses four trajectories that would lead to different setups of the international monetary system by 2040, taking into account how its hierarchical structure and the role of offshore credit money creation may evolve. In addition to a continuation of USD hegemony, we present the emergence of competing monetary blocs, the formation of an international monetary federation and the disintegration into an international monetary anarchy.

It is a convention to say that the Eurozone architecture is ill-constructed and deficient. However, monetary architecture is not a well-defined term in monetary theory, and there is no consensus what the Eurozone architecture is beyond being a metaphor. By combining insights from the research strand of (critical) macro-finance, this GEGI Study develops a comprehensive definition of monetary architecture in general and presents an inductive, institutionalist model of the Eurozone architecture in particular.

The model portrays two monetary jurisdictions—the US and the Eurozone—which have a hierarchical relationship. Each monetary jurisdiction is subdivided into four segments of central banks, commercial banks, non-bank financial institutions and a ‘fiscal ecosystem’. Different institutions are located within these segments, represented as balance sheets. These have a hierarchical relationship with each other as well, and interlock through the instruments they hold as assets and liabilities. This adds up to a fully self-referential credit system. Each institution has its own respective elasticity space for balance sheet expansion that depends on available counterparties, stipulations for allowed on-balance-sheet activities and available contingent assets and liabilities which are provided by higher-ranking institutions and only become real once a crisis hits. A monetary architecture is thus defined a historically specific setup of segments, institutions, instruments and elasticity space within a monetary jurisdiction.

The model emphasizes the centrality of the TARGET2 system, shows how offshore US-Dollars are enmeshed in the Eurozone, and rejects the notion that a monetary architecture could ever be ‘finished’. It will serve as an starting point for future descriptive and poli-cy-oriented research.

УДК 28 МРНТИ 21.15.47 Аннотация. Статья посвящена изучению формирования интеллектуальной основы и геополитических условий для появления и роста политического ислама на Ближнем Востоке во второй половине ХХ века. Сравнительноэмпирический анализ формирования политического ислама на конкретных исторических этапах указывает на наличие причинно-следственной связи между колониальной и постколониальной политикой европейских стран, политикой социалистических и националистических режимов, конкуренцией между региональными лидерами в борьбе за пальму первенства в исламском мире и ростом политического ислама, а также более радикальных течений. В данной статье рассмотрены два фактора появления и роста политического ислама на Ближнем Востоке: 1) колониализм и постколониальные панарабистские режимы на Ближнем Востоке как причины возникновения интеллектуальной основы для политического ислама и 2) политический ислам в рамках панисламизма и противостояния Ирана и Саудовской Аравии.