Endogeneity of Money and the State in Marx’s theory of Non-commodity Money
نویسنده
چکیده
Moseley and Saros’s MELT in case of inconvertible paper money In developing Marx’s non-commodity theory of money which is largely an uncultivated area in Marxian economics, one of the crucial issues at stake is to establish the monetary expression of labour time (MELT) in case of inconvertible paper money consistently with Marx’s theory in general and not rejecting his labour theory of value in particular. Recently Moseley (2004, 2010) and Saros (2007) tackled this issue independently to each other and arrived at the same conclusion that MELT in case of inconvertible paper money ( n MELT ) can be determined as follows (using the same notations Moseley used):
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تاریخ انتشار 2010