[OPE-L:5778] Re: Grossmann & Mattick

From: John Ernst (ernst@pipeline.com)
Date: Mon Jun 04 2001 - 10:58:06 EDT

In 5773,  Andrew Trigg wrote:

"...In view of other comments on Grossmann and
Mattick, it could equally be charged that 'Marxists have no theory of
monetary production'. Such Grossmanite models treat capitalism like a corn
economy in which this scarce stock of surplus value constraints the system.
It is as if banks had a 100 per cent reserve ratio. It would arguably better
for Marxists to unlearn this strange bastardization of Marx's reproduction
schema and re-learn his monetary insights, which provide the antecedants to
Post Keynesian Economics."

My comment:   I agree that it would be good for one and all to re-learn
Marx's "monetary insights."  However,  it is difficult to accept the idea
that Grossmann's use of Bauer's schemes can be viewed simply as a corn
Recall that neither Grossmann nor Mattick accepted the usual perspective
of Marx's concept of value.  Hence, that it does not follow that in terms
of corn the rate of profit in the Bauer schemes is even falling.  


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