From: gerald_a_levy (gerald_a_levy@MSN.COM)
Date: Fri May 02 2003 - 06:50:07 EDT
Michael E wrote on Thursday, May 01: > The quantitative value of money depends inter alia on the quantitative > relation between the amount of money in circulation and the amount of > commodities purchasable, i.e. the quantitative value of money is itself > relative. It will fall if the money volume increases relative to the volume > of commodities to be had for it. Such money volume depends also on credit > relations, which in turn can be state-controlled through the central bank > (again by fiat). Is that the same thing as the quantity theory of money? In solidarity, Jerry PS: thanks for yesterday's aside on Marx. Hans Magnus Enzensberger has been described as Germany's "most important poet" and has been an influential essayist, dramatist, journalist, etc. as well. Listmembers may recall his poem "Karl Heinrich Marx" which began with the words "gigantic grandfather." I have wondered, though, in his description of Marx as "gigantic" with a "massive body" if he was describing someone else. How "gigantic" and "massive" was Marx? Wasn't Engels taller (but thinner)?
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