Marx and the Macro-monetary Foundation of Microeconomics

Riccardo Bellofiore

Chapter 7 in The Constitution of Capital, 2004, pp 170-216 from Palgrave Macmillan

Abstract: Abstract In many of his recent writings, and also in his chapter for this book, Fred Moseley has stressed that Marx’s theory must be interpreted as a ‘macro’ and ‘monetary’ approach, which grounds the determination of prices of production.1 Moseley recognizes that others have put forward a ‘macro-monetary’ reading of Marxian theory. Rather than engage in a dialogue with these other perspectives, Moseley has been content to refine his own interpretation. Open dialogue and a detailed criticism are necessary to identify similarities and differences between these positions.

Keywords: Real Wage; Labour Time; Price Rule; Surplus Labour; Money Wage (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-3864-0_7

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DOI: 10.1057/9781403938640_7

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