Commodity, Money and Capital

16 Sep , 2020  

Under the aspect of the juxtaposition of commodity and money, Marx speaks in the first three chapters of Kapital Bd.1 of the commodity as a commodity form. If the development of value itself is addressed here at the same time, he speaks of the value form. In this context, he ...

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Marx’s Monetary Theory of Value and Capital as a Critique of Classical Political Economy

14 Aug , 2020  

John Milios Department of Humanities, Social Sciences and LawNational Technical Universityof Athens, GreeceEmail:

Dimitris P. SotiropoulosDepartment of Sociology University of the Aegean, GreeceEmail:

Short description: When does a theory really die? In the history of economic thought, it is rather common to assume that the labour theory of ...

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Measure, machine, money

22 Jun , 2020  

The aim of the text is to clarify why machines are economically productive only in capitalism and therefore in our society are capitalistic machines. They are capitalist not only because they increase the productive power of the capitalist valorisation, but this valorisation first of all is producing these machines, or ...

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Capitalisation is debt production sui generis

26 Mai , 2020  

Dieter Schnass writes in the context of the EU’s current aid measures in an article in Wirtschaftswoche that infinite debt is the business basis of the capitalist system: “… Without stimulus from governments and central banks the world economy would be stuck for years “in a deflationary labyrinth”. What is ...

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A propos capital

16 Mai , 2020  

“The exact development of the concept of capital is necessary, since it is the fundamental concept of modern economics, just as capital itself, whose abstract counterpart (Gegenbild) is its concept, is the foundation of bourgeois society. The sharp formulation of the basic, presuppositions of the relation must bring ...

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Capitalized money, austerity and the math of capitalism

6 Mai , 2020  

This article seeks to contribute to the existing critical debates on money and debt by advancing three main arguments. First, largely due to such debates’ tendency for description, the article argues that in in the heterodox literature on money and debt there is no convincing critical theory of money creation. ...

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16 Apr , 2020  

This article investigates the mechanisms and causes of recessions and depressions, and their relation to the more spectacular financial crises which announce them. It demonstrates how the concept of the Monetary Expression of Labour Time (MELT) allows us to understand the most difficult aspect of this relation, namely how money ...

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Remarks on Suzanne de Brunhoffs “Marx on Money”

6 Feb , 2020  

Recently, the writings of Suzanne de Brunhoff (1929-2015), largely unknown at least in the German-speaking world, have again been mentioned by some Marxist economists and philosophers. Tony Norfield refers to Brunhoff in his book “The City” in a footnote in connection with the little-discussed role of private banks as creators ...

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EconoFiction, PhiloFiction

25 Theses at time (of capital)

23 Jan , 2020  

1) Economic quantities can be changed in time precisely because money, as a so-called transcendental signifier of capital, has the quality of a pure quantity, whereby money is released from current acts of exchange and thus, as a monetary sign, accounts for the time accumulated in the commodity, which in ...

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Marx`Theory of value (3)

18 Dez , 2019  

  1. general value form

In order to obtain the general value form from the unfolded value form, only the simple operation of reversal is required, which implies that we are dealing virtually with a simultaneous second and third value form. Now commodity A no longer expresses its value (as in the ...

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How Marxism today has to read Capital and how it has to analyze the current capital relations.

3 Dez , 2019  

Even for Marx, an important consequence of extracting added value in the production of goods is that the added value is transformed into what we now call an asset. In this context, the asset is a means of preserving added value on the one hand and of accumulating it on ...

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EconoFiction, Mashines

Money Robots

16 Okt , 2019  

Money robots are actually nothing more than complex algorithms that analyze and process data and are also able to learn from feedback and results. Former MEP Martin Ehrenhauser has published an informative book on this subject. The book “Die Geldroboter”, published by ProMedia-Verlag, deals with the function and effectiveness of ...

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