[OPE-L:2937] Re: Re: Re: Marx and Keynes and Riccardo on money

From: riccardo bellofiore (bellofio@cisi.unito.it)
Date: Sat Apr 29 2000 - 05:43:02 EDT

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At 17:19 +0100 22-04-2000, Fred B. Moseley wrote:

>What don't you like about Marx's derivation of abstract labor from
>exchange? What is (are) specific the problem(s) with this derivation

The problem here is that, as rightly Andrew Brown said in another post, in
Marx's derivation money *is* a commodity. This is a problem. I'm not saying
I don't like it. It is something genial in the history of economic thought,
and I would find it wrong to go back *before* Marx, say to Ricardo's theory
of money. The point is that, to go *forward* after Marx we - that is, I ! -
need to integrate a non commodity theory of money la
Wicksell-Schumpeter-Keynes in a labour theory of value.


        Riccardo Bellofiore
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