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Marx’s Theory of Money

Modern Appraisals

  • Book
  • © 2005

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Editors:
  1. Fred Moseley

    1. Mount Holyoke College, USA

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Table of contents (15 chapters)

  1. Front Matter

    Pages i-vii
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  2. Introduction

    1. Introduction

      • Fred Moseley
      Pages 1-18

  3. Marx’s Basic Theory of Money

    1. Front Matter

      Pages 19-19
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    2. The Commodity Nature of Money in Marx’s Theory

      • Claus Germer
      Pages 21-35

    3. Marx’s Theory of Money in Historical Perspective

      • Duncan Foley
      Pages 36-49

    4. Money as Displaced Social Form: Why Value cannot be Independent of Price

      • Patrick Murray
      Pages 50-64

    5. Marx’s Objections to Credit Theories of Money

      • Anitra Nelson
      Pages 65-77

    6. Money as Constituent of Value

      • Geert Reuten
      Pages 78-92

  4. Extensions and Reconstructions of Marx’s Theory of Money

    1. Front Matter

      Pages 93-93
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    2. The Universal Equivalent as Monopolist of the Ability to Buy

      • Costas Lapavitsas
      Pages 95-110

    3. Value and Money

      • Christopher J. Arthur
      Pages 111-123

    4. 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

      • Riccardo Bellofiore
      Pages 124-139

  5. Marx’s Critique of the Quantity Theory of Money

    1. Front Matter

      Pages 141-141
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    2. Marx’s Explanation of Money’s Functions: Overturning the Quantity Theory

      • Martha Campbell
      Pages 143-159

    3. Marx’s Anti-Quantity Theory of Money: A Critical Evaluation

      • Pichit Likitkijsomboon
      Pages 160-174

  6. Money and the Transformation Problem

    1. Front Matter

      Pages 175-175
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    2. The New Interpretation and the Value of Money

      • Makoto Itoh
      Pages 177-191

    3. Money has no Price: Marx’s Theory of Money and the Transformation Problem

      • Fred Moseley
      Pages 192-206

  7. Marx’s Theory of World Money

    1. Front Matter

      Pages 207-207
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    2. Marx’s Contribution to the Search for a Theory of Money

      • Suzanne de Brunhoff
      Pages 209-221
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Keywords

About this book

This book provides a contemporary assessment of Marx's theory of money. This theory is often praised as one of Marx's greatest achievements, especially when compared with either classical or neoclassical economics. On the other hand, Marx's theory of money has also been severely criticized, especially that it seems to require that money be a produced commodity. The contributors to the volume provide a wide-ranging and in-depth appraisal of the strengths and weaknesses of Marx's theory of money, compared to other theories of money.

Editors and Affiliations

  • Mount Holyoke College, USA

    Fred Moseley

About the editor

CHRIS ARTHUR University of Sussex, UK RICCARDO BELLOFIORE University of Bergamo, Italy MARTHA CAMPBELL State University of New York - Potsdam, USA SUZANNE DE BRUNHOFF Centre National de la Recherche Scientifique, France DUNCAN FOLEY New School University, USA CLAUS GERMER University of Parana, Brazil MAKOTO ITOH Kokugakuin University, Japan COSTAS LAPAVITSAS University of London, UK PICHIT LIKITKIJSOMBOON Thammasat University, Thailand PATRICK MURRAY Creighton University, USA ANITRA NELSON RMIT University, Australia GEERT REUTEN University of Amsterdam, The Netherlands TONY SMITH Iowa State University, USA

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