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. The madness of capitalism is thus not an effect of the choking of the system with surplus. Marx on money provides an illuminat ing discussion on this problem. 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.
Marx on money radical thinkers kindle edition by suzanne. Marx, karl, selections from capital and theories of surplus value. Mr online the significance of marxs theory on money. According to marx, money capital, lent by its capitalist owner to an industrial capitalist, is potential capital.
Tom mccarthy, karl marx, and the money on the books. In a handbook of alternative monetary economics, edited by philip arestis and malcolm c. The overall trajectory, as brunhoff demonstrates in marx on money, is towards the financialization of capitalism, and the instability that goes with. Download it once and read it on your kindle device, pc, phones or tablets. 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. The overall trajectory, as brunhoff demonstrates in marx on money, is towards the financialization of capitalism, and the instability that goes with it. Foley from the point of view of later heterodox economics, three features of marxs theory are particularly important. Lastly, i think an faq would be a good thing to start. From the gold standard to the floating dollar standard. Pdf this interdisciplinary work relates marxs theory of money to his overall. The theory of money that marx developed as part of his theory of capitalism has long been neglected or subject to criticism. Understanding capital marxs economic theory duncan k. Money, interest and finance in marxs capital springerlink.
Marx began his studies of capitalism with an analysis of com modity and money forms. Suzannes law the suzanne lyall campus safety act suzannes law. It does not often concern criticism of current themes, such as monetarism, nor topics under discussion today, fiat money, international money. Marxs contribution to the search for a theory of money. Sweezy, 1910 ernest mandel, 19231995 josef steindl, 19121993. Labor, value, money 12 3 the theory of capital and surplus value 31 4 production under capitalism 49 5 the reproduction of. Dostaler thomas bottomore alfredo medio neomarxismradical political economy paul a. Marx on money download ebook pdf, epub, tuebl, mobi. More recently serious challenges to marxs theory of money have appeared, along with reinterpretations, and even extensive revisions such as the neomarxian. Click download or read online button to get marx on money book now. On the other hand, marxs theory of money has also been severely criticized, especially that it seems to require that money be a produced. 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. According to marx, money capital, lent by its capitalist owner to an industrial capitalist.
Contents preface vii introduction xiii part one the marxist theory of money a. Publication date 1976 topics marxian economics, money publisher new york. Harry magdoff samir amin, 1931 andre gunder frank, 1929. 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. At a certain point, this growing alienation tied to the separation of usevalue from exchangevalue leads to a qualitative transformation. 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.
This was a very serviceable work that introduced thousands of scholars to marxs analysis of money for the first time. Interest payments made by borrowers to lenders are part of the global surplus value produced by labourers and appropriated by capitalists. 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. This site is like a library, use search box in the widget to get ebook that you want.
Money and credit in marxs political economy and contemporary. 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. 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 also published in english the book state, capital and economic policy. Chronological index of books on marxian theory political. The investigation of money as the crystallization of value in its material sense is central to how we understand capitalism and how it. This major handbook consists of 29 contributions that explore the full range of exciting and interesting work on money.
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