[OPE-L:1142] Re: Marx, Ricardo and money

Allin Cottrell (cottrell@wfu.edu)
Tue, 20 Feb 1996 06:06:01 -0800

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> Paul
> ----
> The passage that Steve cites from vol 3 with
> respect to money is refering to money borrowed
> as capital. What Allin seemed to be talking about
> was money in its quotidien sense as a means of
> payment.

Yes. The "thing" that does not have a real value, for Marx in vol. III --
and whose price can therefore only be determined by supply and demand --
is not money as such, but the _use_ of a sum of money for a certain
period, i.e. loanable funds. This of course accords with Ricardo, for
whom the rate of interest is not a labour-value-determined price.