[OPE-L:374] Money markets of contemporary capitalism [digression]

glevy@acnet.pratt.edu (glevy@acnet.pratt.edu)
Mon, 30 Oct 1995 13:46:28 -0800

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Duncan wrote [ope-l:372]:

> Perhaps the most puzzling thing about the money markets of contemporary
> capitalism
> is to understand how different national money markets and money rates of
> interest can coexist and function effectively as a world money market,
> despite there being no world money.

This is a very interesting, and important, issue. I ask the following
question of Duncan, and whoever else is interested in pursuing this issue
as a "digression":

-- What would be the various steps that one should take that would lead
one to developing a satisfactory answer the the above issue?
That is, if we were to attempt to develop a Marxist explanation for
the above, very concrete, issue, *how* [specifically] would we go
about theorizing such a subject?

This might seem to be a question that is very far removed from a
discussion of method, which Chai-on initiated today. I would argue that
it is not. Perhaps, by thinking of the *way* that we would go about
answering a concrete question, we might flush out some of our own
perspectives on method and how one goes about "extending Marx."

Would anyone like to take a bite?

In OPE-L Solidarity,