Mr online the significance of marxs theory on money. Publication date 1976 topics marxian economics, money publisher new york. This major handbook consists of 29 contributions that explore the full range of exciting and interesting work on money. However, there are several reasons to revisit this theory at present. This site is like a library, use search box in the widget to get ebook that you want. Lastly, i think an faq would be a good thing to start. Pdf this interdisciplinary work relates marxs theory of money to his overall.
Marx on money provides an illuminat ing discussion on this problem. Understanding capital online university of the left. Click download or read online button to get marx on money book now. Use features like bookmarks, note taking and highlighting while reading marx on money radical thinkers. Marxs contribution to the search for a theory of money. Download it once and read it on your kindle device, pc, phones or tablets. Money and credit in marxs political economy and contemporary. Normally, in this debate, those who saw the essentiality of money as a commodity in the way marx formulated his theory of value, tended to uncritically defend it. More recently serious challenges to marxs theory of money have appeared, along with reinterpretations, and. The madness of capitalism is thus not an effect of the choking of the system with surplus. The contributors to the volume provide a wideranging and indepth appraisal of the strengths and weaknesses of marx s theory of money, compared to other theories of money. The theory of money that marx developed as part of his theory of capitalism has long been neglected or subject to criticism. I just figured this will develop into an extremely important topic.
More recently serious challenges to marxs theory of money have appeared, along with reinterpretations, and even extensive revisions such as the neomarxian. The overall trajectory, as brunhoff demonstrates in marx on money, is towards the financialization of capitalism, and the instability that goes with. Marx on money radical thinkers kindle edition by suzanne. Suzannes law, requiring police to notify the national crime. Marx, and by marx alone, between commodity, money and capital, i adopt a different procedure when it is a.
The investigation of money as the crystallization of value in its material sense is central to how we understand capitalism and how it can be abolished. Money and credit theories of crisis crotty, james, the centrality of money, credit, and financial intermediation in marx s crisis theory, in resnick and wolff eds. Sep 18, 2017 within the logical structure of marxs theorisation, the analyses of the role of money as a hoard and a means of payment form, on the one hand, the basis for the analysis of world money, and, on the other, for his elaboration of the emergence of credit money and the financial system brunhoff 1976. On the other, within the logical structure of marxs theory of money, money in its form as world money also stems from the analyses of. She also published in english the book state, capital and economic policy. It does not often concern criticism of current themes, such as monetarism, nor topics under discussion today, fiat money, international money. On the other hand, marxs theory of money has also been severely criticized, especially that it seems to require that money be a produced commodity. Tom mccarthy, karl marx, and the money on the books. Marx began his studies of capitalism with an analysis of com modity and money forms. Marx, karl, selections from capital and theories of surplus value.
Understanding capital marxs economic theory duncan k. Harry magdoff samir amin, 1931 andre gunder frank, 1929. On the other hand, marx s theory of money has also been severely criticized, especially that it seems to require that money be a produced commodity. Dostaler thomas bottomore alfredo medio neomarxismradical political economy paul a. This summary sentence characterizes well the difficulty of coming to a useful definition of money via marxs theorization of it in capital. Marxs theory of money is therefore in the first place a commodity theory of money.
Chronological index of books on marxian theory political. According to marx, money capital, lent by its capitalist owner to an industrial capitalist, is potential capital. Foley from the point of view of later heterodox economics, three features of marxs theory are particularly important. This was a very serviceable work that introduced thousands of scholars to marxs analysis of money for the first time. The theory of money that marx developed to go along with his theory of capitalism has long been neglected or subject to criticism. A given commodity can play the role of universal medium of exchange, as well as fulfil all the other functions of money, precisely because it is a commodity, i. Marx on money download ebook pdf, epub, tuebl, mobi. Interest payments made by borrowers to lenders are part of the global surplus value produced by labourers and appropriated by capitalists. From the gold standard to the floating dollar standard. In a handbook of alternative monetary economics, edited by philip arestis and malcolm c. On the other hand, marxs theory of money has also been severely criticized, especially that it seems to require that money be a produced. Contents preface vii introduction xiii part one the marxist theory of money a.
According to marx, money capital, lent by its capitalist owner to an industrial capitalist. At a certain point, this growing alienation tied to the separation of usevalue from exchangevalue leads to a qualitative transformation. Suzannes law the suzanne lyall campus safety act suzannes law. At the same time, then, as the transformation of the products of labour into commodities is accomplished, one particular commodity is transformed into money. She taught at the universite of paris x nanterre, was an active member of the french communist party, and participated in the struggle for algerian. Labor, value, money 12 3 the theory of capital and surplus value 31 4 production under capitalism 49 5 the reproduction of. Sweezy, 1910 ernest mandel, 19231995 josef steindl, 19121993. The contributors to the volume provide a wideranging and indepth appraisal of the strengths and weaknesses of marxs theory of money, compared to other theories of money. The overall trajectory, as brunhoff demonstrates in marx on money, is towards the financialization of capitalism, and the instability that goes with it.1088 640 79 1134 4 238 1521 114 657 1399 1103 1166 305 1518 262 1615 1478 1526 591 1051 850 1025 545 479 1128 29 336 491 1324 1158 779