Re: (OPE-L) recent references on 'problem' of money commodity?

From: Riccardo Bellofiore (riccardo.bellofiore@UNIBG.IT)
Date: Wed Nov 03 2004 - 04:15:15 EST


Just a clarification:

(i) I agree with Germer that money WAS a commodity in Marx's theory,
and that this was essential to understand his way to frame his value
theory

(ii) I think that money IS NOT a commodity, and that Marx's value
theory can (and must) be reconstructed without money as a commodity.

If I understand well, on point ii Claus and me part our company.

the first is interpretation, the second reconstruction.

I think Fred would not accept this distinction, since this would
depart from a strictly orthodox reading of Marx. I think that the
textual evidence is strongly on the side of i., and the theoretical
developments after Marx strongly support ii.

And I also think that Fred's own thinking about money (say: the way
the value of money is determined in a non-commodity money system) has
had to deal, and change considerably in a few months, with this facts.

rb

At 19:37 -0400 28-10-2004, Fred Moseley wrote:
>On Thu, 21 Oct 2004, bellofio@unibg.it wrote:
>
>>  In my chapter in the forthcoming book edited by Moseley I summarise my view
>>  on how to recostruct Marx's system without money as a commodity.
>>
>>  Probably it has been already told on this list, but in the Moseley's book
>>  there is also a very clever and detailed defence of the commodity money
>>  perspective in Marx by Germer.
>
>
>Riccardo mentioned the forthcoming book (conference volume), edited by
>me.  The title is *Marx's Theory of Money: Modern Appraisals*.  Authors
>are: Foley, de Brunhoff, Germer, Itoh, Lapavitsas, Likitkijsomboon,
>Nelson, Campbell, Bellofiore, Reuten, Smith, Murray, Arthur, and Moseley.
>
>All the authors in this book, except Germer and Bellofiore, argue that
>money does NOT have to be a commodity in Marx's theory.
>
>Below is the Table of Contents of the book, and attached in my
>introduction, for those who might be interested.  I would of course be
>very interested in any comments listmembers might wish to make.  The book
>will be published by Palgrave in early 2005.
>
>Comradely,
>Fred
>
>
>
>
>
>
>
>Part I  Marx's Basic Theory of Money
>
>         Claus Germer    The Commodity Nature of Money in Marx's Theory
>
>         Duncan Foley    Marx's Theory of Money in Historical Perspective
>
>         Patrick Murray  Money as Displaced Social Form:
>                         Why Value Cannot Be Independent of Price
>
>         Anitra Nelson   Marx's Objections to Credit Theories of Money
>
>         Geert Reuten    Money as Constituent of Value
>
>
>
>Part II Extensions and Reconstructions of Marx's Theory of Money
>
>         Costas Lapavistas    The Universal Equivalent and Monopolist of
>                              the Ability to Buy
>
>
>         Riccardo Bellofiore  The Monetary Aspects of the Capitalist
>                              Process in the Marxian System:
>                              An Investigation from the Point of View of
>                              the Theory of the Monetary Circuit
>
>
>
>Part III  Marx's Critique of the Quantity Theory of Money
>
>         Martha Campbell         Marx's Explanation of Money's Functions
>                                 Overturning the Quantity Theory
>
>         Pichit Likitkijsomboon  Marx's Anti-Quantity Theory of Money:
>                                 A Critical Evaluation
>
>
>Part IV  Money and Prices of Production
>
>         Makoto Itoh     The New Interpretation and the Value of Money
>
>         Fred Moseley    Money Has No Price: Marx's Theory of Money
>                         and The Transformation Problem
>
>
>Part V  International Money
>
>         Suzanne de Brunhoff  Marx's Contribution to the Search for a
>                              Theory of Money
>
>         Tony Smith      Toward a Marxian Theory of World Money
>
>
>
>Content-Type: APPLICATION/MSWORD; name="INTRO2.DOC"
>Content-ID: <Pine.OSF.4.21.0410281937510.215220@mhc.mtholyoke.edu>
>Content-Description:
>Content-Disposition: attachment; filename="INTRO2.DOC"
>
>Attachment converted: Macintosh HD:INTRO2 1.DOC (WDBN/MSWD) (0008881C)


--

Riccardo Bellofiore
Dipartimento di Scienze Economiche
"Hyman P. Minsky"
UniversitÓ di Bergamo
Via dei Caniana 2
I-24127 Bergamo, Italy
e-mail:   riccardo.bellofiore@unibg.it
direct    +39-035-2052545
secretary +39-035 2052501
fax:      +39 035 2052549
homepage: http://wwwesterni.unibg.it/dse/homepage/bellofiore.htm


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