[OPE-L:5201] Re: Query re Kuhne

Gerald Levy (glevy@pratt.edu)
Fri, 6 Jun 1997 15:46:10 -0700 (PDT)

[ show plain text ]

Re Alejandro R's request in [OPE-L:5200]:

>From Karl Kuhne _Economics and Marxism_, Volume One (London, Macmillan,
1979), in Chapter 38 ("Marx as a Monetary Theorist") in the section on
"The 'Ghost of Gold Theory and the Unjustified Reproach of Metalism",
page 335:

"The entire history of modern industry shows that metal would
indeed be required only for the balancing of international
commerce, whenever its equilibrium is momentarily disturbed, if
only domestic production were organised. That the domestic
market does not need any metal even now is shown by the
suspension of the cash payments of the so-called national banks,
which resort to this expedient in all extreme cases as the sole
relief (_Capital_, III, ch. 32, p. 517).

[The English translation used for _Capital_ was Lawrence and Wishart
(London, 1974)].

Well, Ale: why don't you tell us why you think the above passage is so

In solidarity, Jerry