Re: [OPE] How to read Capital

Date: Fri Apr 04 2008 - 04:22:04 EDT


Dave Z

But commodities are empirical and money is an empirical fact. The question is how we are going to explain the genesis of money. There are, generally speaking, two theories on this: formal and materialist theories of money. The classical (pre-Marx) explanations of money with a reference to barter is a formal one. Adam Smith sensed that when he said production can do without money. Contemporary theories which separates entirely financial markets from material production are formalist theories of money. Marx's explanation of the genesis of money is a materialist one. So that is all I know about this issue.




-----Ursprüngliche Mitteilung----- 
Von: Dave Zachariah <>
An: Outline on Political Economy mailing list <>
Verschickt: Do., 3. Apr. 2008, 19:31
Thema: Re: [OPE] How to read Capital

on 2008-04-03 19:19 wrote: 

> I recommend you reading the first chapter of the first volume of 
> Capital very carefully. 

> There Marx explains very well why the existence of money can be 
> deduced dialectically from value form of commodity. 

Fine, but the deduction is empirically false. 

//Dave Z 


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