Showing posts with label Marx’s monetary theory. Show all posts
Showing posts with label Marx’s monetary theory. Show all posts

Tuesday, June 16, 2015

Bibliography on Marx’s Monetary Theory

I’ve been reviewing Marx’s monetary theory as developed in part 1 of volume 1 of Capital, but there are also a number of interesting studies of this topic, as follows:
Arnon, Arie. 1984. “Marx’s Theory of Money: The Formative Years,” History of Political Economy 16: 311–326.

Arnon, Arie. 2012. Monetary Theory and Policy from Hume and Smith to Wicksell: Money, Credit, and the Economy. Cambridge University Press, Cambridge and New York. Chapter 15, pp. 309–329.

de Brunhoff, Suzanne. 1976. Marx on Money. Urizen, New York.

de Brunhoff, Suzanne and Duncan K. Foley. 2006. “Karl Marx’s Theory of Money and Credit,” in Philip Arestis and Malcolm Sawyer (eds.), A Handbook of Alternative Monetary Economics. Edward Elgar, Cheltenham, UK and Northampton, MA. 188–204.

Foley, Duncan K. 2005. “Marx’s Theory of Money in Historical Perspective,” in Fred Moseley (ed.), Marx’s Theory of Money: Modern Appraisals. Palgrave Macmillan, London. 36–49.

Germer, Claus. 2005. “The Commodity Nature of Money in Marx’s Theory,” in Fred Moseley (ed.), Marx’s Theory of Money: Modern Appraisals. Palgrave, London. 21–35.

Graziani, Augusto and Michel Vale. 1997. “The Marxist Theory of Money,” International Journal of Political Economy 27.2: 26–50.

Lapavitsas, C. 1994. “The Banking School and the Monetary Thought of Karl Marx,” Cambridge Journal of Economics 18: 447–461.

Lavoie, Don. 1986. “Marx, the Quantity Theory, and the Theory of Value,” History of Political Economy 18:1, 155–170.

Messori, Marcello and Michael Vale. 1997. “The Theory of Value without Commodity Money?: Preliminary Considerations on Marx's Analysis of Money,” International Journal of Political Economy 27.2: 51–96.

Moseley, Fred. “The ‘Monetary Expression of Labor’ in the Case of Non-Commodity Money,” November 2004
https://www.mtholyoke.edu/~fmoseley/Working_Papers_PDF/melt.pdf

Nelson, Anitra. 1999. Marx’s Concept of Money: The God of Commodities. Routledge, London and New York.

Nelson, Anitra. 2001. “Marx’s Theory of the Money Commodity,” History of Economic Review 33: 44–63.

Smith, Matthew. 2004. “Thomas Tooke’s Legacy to Monetary Economics,” in Tony Aspromourgos and John Lodewijks (eds.), History and Political Economy: Essays in Honour of P.D. Groenewegen. Routledge, London. 57–75, especially 62–65.

Wolfson, Murray. 1988. “Comment: Marx, the Quantity Theory, and the Theory of Value,” History of Political Economy 20: 137–140.
No doubt I have missed some important works, but I will update the bibliography as necessary.

An important point is that Marx seems to have had a type of quantity theory, albeit a highly idiosyncratic one based on the labour theory of value.

Furthermore, Marx took over and incorporated fundamental ideas on endogenous money right from the Banking School economist Thomas Tooke’s work as follows:
Tooke, Thomas. 1844. An Inquiry into the Currency Principle: The Connection of the Currency with Prices and the Expediency of a Separation of Issue from Banking. Longman, Brown, Green, and Longmans, London.
https://archive.org/details/inquiryintocurre00tookuoft