From: Riccardo Bellofiore (riccardo.bellofiore@UNIBG.IT)
Date: Wed Nov 03 2004 - 04:15:15 EST
Just a clarification: (i) I agree with Germer that money WAS a commodity in Marx's theory, and that this was essential to understand his way to frame his value theory (ii) I think that money IS NOT a commodity, and that Marx's value theory can (and must) be reconstructed without money as a commodity. If I understand well, on point ii Claus and me part our company. the first is interpretation, the second reconstruction. I think Fred would not accept this distinction, since this would depart from a strictly orthodox reading of Marx. I think that the textual evidence is strongly on the side of i., and the theoretical developments after Marx strongly support ii. And I also think that Fred's own thinking about money (say: the way the value of money is determined in a non-commodity money system) has had to deal, and change considerably in a few months, with this facts. rb At 19:37 -0400 28-10-2004, Fred Moseley wrote: >On Thu, 21 Oct 2004, bellofio@unibg.it wrote: > >> In my chapter in the forthcoming book edited by Moseley I summarise my view >> on how to recostruct Marx's system without money as a commodity. >> >> Probably it has been already told on this list, but in the Moseley's book >> there is also a very clever and detailed defence of the commodity money >> perspective in Marx by Germer. > > >Riccardo mentioned the forthcoming book (conference volume), edited by >me. The title is *Marx's Theory of Money: Modern Appraisals*. Authors >are: Foley, de Brunhoff, Germer, Itoh, Lapavitsas, Likitkijsomboon, >Nelson, Campbell, Bellofiore, Reuten, Smith, Murray, Arthur, and Moseley. > >All the authors in this book, except Germer and Bellofiore, argue that >money does NOT have to be a commodity in Marx's theory. > >Below is the Table of Contents of the book, and attached in my >introduction, for those who might be interested. I would of course be >very interested in any comments listmembers might wish to make. The book >will be published by Palgrave in early 2005. > >Comradely, >Fred > > > > > > > >Part I Marx's Basic Theory of Money > > Claus Germer The Commodity Nature of Money in Marx's Theory > > Duncan Foley Marx's Theory of Money in Historical Perspective > > Patrick Murray Money as Displaced Social Form: > Why Value Cannot Be Independent of Price > > Anitra Nelson Marx's Objections to Credit Theories of Money > > Geert Reuten Money as Constituent of Value > > > >Part II Extensions and Reconstructions of Marx's Theory of Money > > Costas Lapavistas The Universal Equivalent and Monopolist of > the Ability to Buy > > > Riccardo Bellofiore The Monetary Aspects of the Capitalist > Process in the Marxian System: > An Investigation from the Point of View of > the Theory of the Monetary Circuit > > > >Part III Marx's Critique of the Quantity Theory of Money > > Martha Campbell Marx's Explanation of Money's Functions > Overturning the Quantity Theory > > Pichit Likitkijsomboon Marx's Anti-Quantity Theory of Money: > A Critical Evaluation > > >Part IV Money and Prices of Production > > Makoto Itoh The New Interpretation and the Value of Money > > Fred Moseley Money Has No Price: Marx's Theory of Money > and The Transformation Problem > > >Part V International Money > > Suzanne de Brunhoff Marx's Contribution to the Search for a > Theory of Money > > Tony Smith Toward a Marxian Theory of World Money > > > >Content-Type: APPLICATION/MSWORD; name="INTRO2.DOC" >Content-ID: <Pine.OSF.4.21.0410281937510.215220@mhc.mtholyoke.edu> >Content-Description: >Content-Disposition: attachment; filename="INTRO2.DOC" > >Attachment converted: Macintosh HD:INTRO2 1.DOC (WDBN/MSWD) (0008881C) -- Riccardo Bellofiore Dipartimento di Scienze Economiche "Hyman P. Minsky" Università di Bergamo Via dei Caniana 2 I-24127 Bergamo, Italy e-mail: riccardo.bellofiore@unibg.it direct +39-035-2052545 secretary +39-035 2052501 fax: +39 035 2052549 homepage: http://wwwesterni.unibg.it/dse/homepage/bellofiore.htm
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