[OPE-L:2387] Re: commodity money in Marx's theory

Fred Moseley (fmoseley@laneta.apc.org)
Tue, 28 May 1996 07:28:46 -0700

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Riccardo wrote (in part) in (2369):

>At 22:54 26-05-1996 -0700, Fred Moseley wrote:
>>I would appreciate any thoughts Chai-on or others might have about this
>>question (including especially Riccardo, who I think has stated in several
>>posts that he thinks that money must be a commodity in Marx's theory, but
>>has not yet explained why, so far as I can tell).
>What I tried to state is a complex set of propositions, the following:
>(i) in Marx's original labour theory of value, money was deduced as a
>commodity at the beginning of capital, when Marx analyses (general)
>exchange as such. Eventually, value is labour because it is the amount of
>labour producing the money who 'buys' the commodity.

But this still does not seem to explain HOW money was deduced as a
commodity, or WHY money must be a commodity. What is the reasoning that led
to this conclusion?