[OPE-L] Sergio Bologna, "Money and Crisis"

From: glevy@PRATT.EDU
Date: Sun Mar 06 2005 - 09:25:00 EST

Follow the links for the rest of the article. Published in 5 parts.
In solidarity, Jerry

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Sergio Bologna, "Money and Crisis"
|  http://info.interactivist.net/article.pl?sid=05/02/27/1956213

"Money and Crisis:

Marx as Correspondent of the New York Daily Tribune, 185657"
Sergio Bologna

[Editorial Note: This article was written in 1973. It was a key article in
developing the theoretical base of the newly emerging politics of
working-class autonomy. This translation, presented here in five parts,
was made by Ed Emery and John Merrington for an anticipated volume to be
published by Red Notes: Selected Writings of Sergio Bologna. For further
details, write to Red Notes, BP15, 2a St Paul's Road, London N1 UK]

At the beginning of 1855, in a series of articles in the Neuer Oder
Zeitung (11, 12, 20 and 25 January and in successive articles in the
following months) Marx confronted the problem of cyclical crises and
questions related to the British banking reforms of 1844. Already there
were signs of the coming world recession of 185658 and it was urgent to
set about analysing its causes.

Marx's unpublished notes on Geldwesen, Kreditwesen, Krisen ("Essence of
Money, Credit and Crisis") also date from the same period  November 1854
to January 1855. The relation between the money form and general crisis
must thus have been clear to him before the direct experience of the
crisis of 1857. Even so, it seems historically legitimate to locate in
this experience a decisive turning point in Marx, relating the early
stages of his project for Capital to the need for building the base for an
international revolutionary working-class party. It seems likely that this
convergence of his theoretical and practical work would not have been so
solidly achieved had it not been for the close scrutiny and stage-by-stage
observation that he devoted to the monetary crisis of 1857. I have taken
this as my starting point for a reading of the articles which Marx was
writing about the crisis, articles which appeared in the New York Daily
Tribune between June 1856 and December 1858. This story continues at:

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