The Monetary Aspects of the Capitalist Process in the Marxian System: An Investigation from the Point of View of the Theory of the Monetary Circuit

Riccardo Bellofiore

Chapter 8 in Marx’s Theory of Money, 2005, pp 124-139 from Palgrave Macmillan

Abstract: Abstract Karl Marx’s critique of political economy is a unique case in the history of economic thought. To speak of monetary ‘aspects’ of the Marxian system is not enough even, because what he offers is a view of the capitalist economic process as a whole where production, circulation and distribution are deeply affected by money and finance, so that any dichotomy between the ‘real’ and the ‘monetary’ is futile. Indeed, if there is an author for whom the label monetary theory of production is appropriate, this is Marx.

Keywords: Central Bank; Banking System; Real Wage; Commercial Bank; Commodity Market (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52399-9_9

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DOI: 10.1057/9780230523999_9

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