From: glevy@PRATT.EDU
Date: Thu Jul 15 2004 - 14:45:38 EDT
---------------------------- Original Message ---------------------------- Subject: Monetary economics From: "Jurriaan Bendien" <andromeda246@hetnet.nl> Date: Tue, July 13, 2004 1:16 pm -------------------------------------------------------------------------- Although I haven't been able to study these issues about money in depth as I would like, I might pass on some useful sites for references on the role of money which I found on a query surfing the net, which may be useful to interested Marxian economists: http://www.economics.ltsn.ac.uk/books/MonetaryEconomics.htm#0333725441 http://www.consult.hyperion.co.uk/PubWebFiles/DigMon03/FutureofMoney.pdf http://dismalscience.narod.ru/Ec_fin.htm http://www.umass.edu/peri/ Monetary economics in the Marxian tradition was dealt with by Suzanne de Brunhoff, Duncan Foley, Makoto Itoh/Costas Lapavitsas, and Laurence Harris. I personally don't think a "commodity theory of money" can be credibly sustained these days, other than as a special theory, or with many qualifications. Particularly in a contemporary setting, monetary phenomena obviously cannot really be understood separately from the supply of credit. More than ever before the monetary system has become a way of asserting claims on the social surplus product. I think though one of the best ways to study the economic role of money, though, is to study what happens to exchange relations in the case when a monetary regime breaks down, or a currency is debased or destabilised. In that case, we are pretty soon back with a Marxian-type view of the essence of money. A very succinct, readable Marxian article on contemporary monetarist ideologies which I found useful as a student was by Ernest Mandel, "World crisis and the monetarist answer", in Karel Jansen (ed), Monetarism, economic crisis and the Third World. London: Frank Cass, 1983. This book also has some other useful articles. Jurriaan
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