[OPE-L:7612] Re: Itoh on gold money

From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Thu Sep 05 2002 - 20:24:52 EDT

In [7609] Fred wrote:

> This discussion of this issue at the beginning of the 20th century between
> Varga, Hilferding, Kautsky, and Bauer which you mention in your book
> (p. 271, footnote 10) looks interesting.

Other participants in that debate included J.v.G.  ("Goldproduktion  und
Preisbeweung" , _Die Neue Zeit_, 30 Jg, l9ll/l9l2, I Bd, pp. 660-664)
and Spectator  ("Zur Frage der Goldproduktion und Teuerung",
_Die Neue Zeit_, 30 Jg, l9ll/l9l2,  II Bd, pp. 550-553.)   J.v.G.
supported the Bauer-Kautsky position and Spectator (M. Nakhimson),
although he conceded that Bauer raised legitimate objections to Varga's
theory and method, claimed that empirically Varga's position on rent in
the gold-extraction industry was the more correct.

> Do you know
> of any part of this discussion that has been translated into English?

Karl Kautsky  short book  _The High Cost of Living_  (sub-titled
"Changes in Gold-Production and the Rise in Prices"; Chicago,
Charles H. Kerr & Company, l9l5,  without the translators' introduction
98 pages.)   Although it was written for a popular audience, in a sense
Kautsky got the 'last word' in this debate with the publication of this

What was being debated in the l9l0-l9l2 debate was of immediate
political importance to German and Austrian Social Democracy --
what was the cause of  inflation and what causal relation, if any,
existed between changes in gold production and the general rise in
prices?  -- and was far removed from debates over the
transformation problem.

In solidarity, Jerry

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