From: Fred B. Moseley (fmoseley@mtholyoke.edu)
Date: Tue Aug 27 2002 - 11:04:29 EDT
On Mon, 26 Aug 2002, Gil Skillman wrote: > Date: Mon, 26 Aug 2002 13:05:36 -0400 > From: Gil Skillman <gskillman@mail.wesleyan.edu> > Reply-To: ope-l@galaxy.csuchico.edu > To: ope-l@galaxy.csuchico.edu > Subject: [OPE-L:7548] Re: Re: Re: RE: Fred's remarks on Marx, > Sraffa & Rents > > Paul writes: > > > >The gold industry can not be the key issue here. Assume state fiat > >money instead if that is a problem. > > For what it's worth, I agree. My scenario with commodity money was meant > to be the starting point for a purely theoretical point, but it got > sidetracked with all this discussion of historical conditions in the gold > industry that Marx makes no mention of in K.III. Ch. 9 (which doesn't mean, > of course, that he didn't intend to invoke them). I'll address the > scenario with fiat money presently. Gil > Gil, the fact that, in a system of commodity money, the money commodity has no price and is a scarce precious metal is not a historical contingency, but a necessity due to the nature of money. Marx did not discuss the money commodity in Part 2 of Volume 3 because the money commodity has no price of production and does not participate in the equalization of profit rates like other industries. Comradely, Fred
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