Thanks to Costas for his thoughtful discussion of the Marx/money issue. I
wonder if the Critique actually could be viewed as containing a somewhat
transitional stage of Marx's thinking.
I agree with Costas that Marx's mature view is consistent with a strain
in Ricardo's theory, but not with what Ricardo actually wrote about the
valuation of money, which in many points (for example, his adoption of
the Humean specie-flow mechanism) contradicts what I think is his sounder
development of value theory. I also agree that these points have lessons
for modern monetary theory. The endogeneity of the supply of gold arises
both from production, and from the formation of speculative hoards, however.
Duncan