Money and Totality

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  • Money and Totality Book Detail

  • Author : Fred Moseley
  • Release Date : 2015-09-29
  • Publisher : BRILL
  • Genre : Political Science
  • Pages : 433
  • ISBN 13 : 9004301933
  • File Size : 39,39 MB

Money and Totality by Fred Moseley PDF Summary

Book Description: This ambitious book presents a comprehensive new 'macro-monetary' interpretation of Marx’s logical method in Capital, based on substantial textual evidence, which emphasises two main points: (1) Marx’s theory is primarily a macroeconomic theory of the total surplus-value produced in the economy as a whole; and (2) Marx’s theory is a monetary theory from beginning to end and the circuit of money capital – M - C - M’ – is the logical framework of Marx’s theory. It follows from this 'macro-monetary' interpretation that, contrary to the prevailing view, there is no 'transformation problem' in Marx’s theory; i.e., Marx did not 'fail to transform the inputs of constant capital and variable capital' in his theory of prices of production in Part 2 of Volume III.

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Money and Totality

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Money and Totality

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Correcting a longstanding misinterpretation, Moseley argues that there is no 'transformation problem' in Marx's economic theory.

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