[OPE-L:5604] RE: Re: Re: Re: explanatory power

From: Michael Williams (michael@williamsmj.worldonline.co.uk)
Date: Thu May 17 2001 - 05:35:13 EDT

As usual, Nicky expresses what I was about to say in a much more elegant way
than I could. But I would make one clarification specifically about my
position on Money. Nick says in an aside:

> Mike W probably does not agree with me that Marx
> held a commodity theory of money (see his 2000, RPE).

More precisely, my position is that whether he had one or not, Marx (and a
fortiori, 21st Century Marxism) did not *need* a commodity theory of Money.
And that this is just as well because such a theory would, imo, have
difficulty in grasping Money in modern capitalism. My RPE paper does attempt
to synthesise all the main references in Marx that are compatible with a
non-commodity development of Marxist theory of Money. But the
historiographic question about whether Marx thought that capitalist Money is
necessarily a Commodity is, imo, still open.

Comradely greetings,


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