(OPE-L) Re: Inflation, credit, and the 'money expression of labour' within a value-form perspective

From: gerald_a_levy (gerald_a_levy@MSN.COM)
Date: Fri May 02 2003 - 06:50:07 EDT

Michael E wrote on Thursday, May 01:

> The quantitative value of money depends inter alia on the quantitative
> relation between the amount of money in circulation and the amount of
> commodities purchasable, i.e. the quantitative value of money is itself
> relative. It will fall if the money volume increases relative to the
> of commodities to be had for it. Such money volume depends also on credit
> relations, which in turn can be state-controlled through the central bank
> (again by fiat).

Is that the same thing as the quantity theory of money?

In solidarity, Jerry

PS: thanks for yesterday's aside on Marx.  Hans Magnus Enzensberger
has been described as Germany's "most important poet" and has been an
influential essayist, dramatist, journalist, etc. as well.  Listmembers may
recall his poem "Karl Heinrich Marx" which began with the words "gigantic
grandfather."   I  have wondered, though, in his description of Marx as
"gigantic"  with a "massive body" if he was describing someone else.
How "gigantic" and "massive" was Marx?  Wasn't Engels taller (but

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