However, both the Keen-Minsky debt school and the behaviourist ‘animal spirits’ school have one thing in common. They see the flaws of capitalism in the financial sector only. In contrast, Marx posits the ultimate cause of capitalist crises in the capitalist production process, specifically in production for profit. That does not mean the financial sector and, in particular, the size and movement of credit does not play any role in capitalist crises. On the contrary, the growth of credit and fictitious capital (as Marx called speculative investment in stocks, bonds and other forms of money assets) picks up precisely in order to compensate for the downward pressure on profitability in the accumulation of real capital.