Status Updates From Marx on Money
Marx on Money by
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T
is 80% done
Over my head. I wish I understood finance and banking better. Any recommendations?
— Jun 07, 2021 04:29AM
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David
is on page 100 of 139
In short, the mechanism of the banking circuit furnishes a substitute for the hoarding of newly mined gold engaged in by a section of the capitalists.118 Just as the producers of gold are the permanent suppliers of metallic money to the capitalists, so the banking system remains indefinitely the creditor of the industrial capitalists as a whole.
— Mar 07, 2021 03:59PM
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David
is on page 43 of 139
"... money, despite the secondary nature of its importance, is not neutral and can never be completely neutralized (whether by the development of credit or by monetary policy), since it puts into effect certain private decisions. Money in circulation really belongs to no one, but its very circulation is conditioned on the formation of hoards."
— Feb 18, 2021 07:35AM
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David
is on page 34 of 139
"[In The Poverty of Philosophy] Marx indicated that money has a relative scarcity which constitutes its value. But this thesis is rejected and refuted in Capital. There, Max integrates the value of money into his general economic theory. Since paper money does not lend itself well to that integration, can one nevertheless say that Marx returns to quantitativism when he analyzes paper money?"
this I am looking for
— Feb 18, 2021 05:35AM
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this I am looking for
David
is on page 31 of 139
"It is clear that, if gold and silver themselves have value, quite irrespective of all other laws of circulation, only a definite quantity of gold and silver can circulate as the equivalent of a given aggregate value of commodities."20 And the quantity of gold that can actually circulate depends on the actual exchanges of commodities. Here Marx departs radically from Ricardo, to whom he was just so close.
— Feb 18, 2021 05:14AM
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