Fred Moseley, "Money and Totality: A Macro-Monetary Interpretation of Marx's Logic in Capital and the End of the Transformation Problem"
2015 | ISBN-10: 9004216553 | 415 pages | PDF | 1 MB
This ambitious book presents a comprehensive new 'macro-monetary' interpretation of Marx's logical method in Capital, based on substantial textual evidence, which emphasises two main points: (1) Marx's theory is primarily a macroeconomic theory of the total surplus-value produced in the economy as a whole; and (2) Marx's theory is a monetary theory from beginning to end and the circuit of money capital - M - C - M' - is the logical framework of Marx's theory. It follows from this 'macro-monetary' interpretation that, contrary to the prevailing view, there is no 'transformation problem' in Marx's theory; i.e., Marx did not 'fail to transform the inputs of constant capital and variable capital' in his theory of prices of production in Part 2 of Volume III.
Fred Moseley is Professor of Economics at Mount Holyoke College and is the author and editor of numerous books and articles on Marx's theory, especially the logical method employed by Marx in Capital and the theory of the distribution of surplus-value in Volume III of Capital.
Marxian scholars around the world, especially young scholars and graduate students in Marxian studies in various disciplines, especially economics, and to relative newcomers to Marx's theory and its debate.
Money and Totality: A Macro-Monetary Interpretation of Marx's Logic in Capital and the End of the Transformation Problem
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