RE: [OPE] Problems in International Political Economy (IPE) shaikhs defence of Marx

Date: Fri Apr 18 2008 - 10:29:34 EDT

> Hi Paul C:
> Although Anwar assumes - following Marx - in these papers that gold
> is the money commodity,  I think that the basic argument made about
> the law of absolute costs can be re-cast without that assumption,
> e.g. in a model which assumed that the US$ is the universal equivalent
> and  takes on the role of  "world money".

It is not the assumption that gold is money that I am questioning here
but his understanding of how the gold standard worked. What I am saying
is that Ricardos account of it is more plausible than Marx's.

> In solidarity, Jerry
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