EconoFiction

Marx’s Critique of (Ricardian) Political Economy, the Quantity Theory of Money and Credit Money

25 Jun , 2018  

The Marxist concept of value is very frequently equated, whether explicitly or merely tacitly, with the corresponding Ricardian concept of “labour expended”. This paper argues that unlike the Ricardian theory of value, the Marxist theory of value is a monetary theory. In the Marxist system, the value of a commodity

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EconoFiction

Karl Marx and the Classics

28 Apr , 2018  

Karl Marx and the Classics
An Essay on Value, Crises and the Capitalist Mode of Production

by John Milios, Dimitri Dimoulis and George Economakis

Marx’s Critique of Political Economy constitutes not a “correction”  of Classical Political Economy’s “mistakes” or “misunderstandings ”, but the formation of a new theoretical domain, shaping ...

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EconoFiction

Marx’s Value Theory Revisited. A ‘Value-form’ Approach

12 Apr , 2018  

Marx’s  Capital  does not present an analysis of different economic ‘models’ of ‘themes’ (first the ‘simple commodity production’, then the ‘capitalist commodity’, etc.). It has a unique object of study,  the capitalist mode of production  (i.e. the immanent regularities and tendencies of capitalist social relations), which Marx analyses, first of ...

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