[OPE-L:3671] Re: Re: Rakesh's interpretation

From: Fred B. Moseley (fmoseley@mtholyoke.edu)
Date: Tue Aug 15 2000 - 11:41:48 EDT

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A quick comment and question for you to think about. In your latest
posts, you do not seem to have answered my question of what exactly Volume
1 is about. I say it is mainly about the determination of dM, which means
that the explanation has to be in terms of money, and the concepts
employed in this explanation (constant capital, variable capital, and
surplus-value) have to be defined in terms of money (which indeed they

Do you agree or disagree?

What does Grossman say Volume 1 is about? Is there anything in English on
this? His interpretation of Marx's method as one of "successive
approximations", as I understand it, is pretty much the standard
interpretation, according to which Volume 1 is the "value system",
i.e. is about the determination of "labor-values", and is not about money
and prices at all. Then how do we make sense of the derivation of
money in Section 3 of Chapter 1? Of the "transformation of money into
capital" in Part 2 and beyond? Of the explanation of dM in Chapter 7?


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