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Money in the Grundrisse

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  • Laurent Baronian

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Abstract

The chapter on Money in the Grundrisse shows clearly that the presentation of the nature, properties and functions of money is opposed to the monetary theory of Utopian socialism. Marx emphasizes easily that the exchange value spontaneously objectifies itself in a money distinct from the commodity, but he needs to establish that the distribution of labour activities is mediated by the exchange of labour products under commodity mode of production, to make appear the confusion at the core of the Proudhonians’ reform between exchange of living labour and exchange of labour products and then, the necessity that money embodies itself in a specific commodity.

Suggested Citation

  • Laurent Baronian, 2011. "Money in the Grundrisse," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, issue 60, pages 67-86.
  • Handle: RePEc:cpo:journl:y:2011:i:60:p:67-86
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    More about this item

    Keywords

    Marx; Utopian socialism; monetary theory; money as commodity;

    JEL classification:

    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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