Value, Capitalist Dynamics Dynamics And Money
In: VALUE, CAPITALIST DYNAMICS DYNAMICS AND MONEY
Abstract-- An introduction to Marx's theory of capitalism in Marx's own words begins the book, abridged and with his examples modernized from use of shillings and pence as subdivisions of the Pound [on-line at http://www.acsu.buffalo.edu/~zarembka/Marx.htm ]. -- Well-known 1901 work on the theory of crises in capitalism by Michael Tugan-Baranowsky is translated into English for the first time, with a 'Preface' placing it in context. The political activism and theoretical work of Henryk Grossman through 1926 is summarized in some detail, and a rarely-known brief article of his from 1919 included. -- Ambiguity in Marx's definition of accumulation of capital and the differing directions Lenin and Luxemburg took with it are next analyzed, with a more precise definition offered. Debate, begun in the last volume, over the valuation of means of production and its effect on the possibility of a falling tendency of the profit rate is taken a step forward as contrasting positions are developed. -- Finally, credit money as an advanced form of money is analyzed and the post-Keynesian analysis of it, originating from Kaldor, subject to critique. Several theories of inflation theory are reviewed, with focus on the agencies causing inflation. A rediscovery of Marxian inflation theory is proposed.
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This chapter was published in: Paul Zarembka (ed.) VALUE, CAPITALIST DYNAMICS DYNAMICS AND MONEY, Paul Zarembka, pages 362, 2000.
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