Skip to main content

Money, Form and Determination of Value

  • Chapter
Marxian Economics: A Reappraisal

Abstract

The concept of form of value is certainly one of Marx’s outstanding contributions. A short discussion of the difficulties of the contemporary monetary theory in its most developed version (the neoclassical one) will show that this concept is the necessary starting point (or the rational basis) for monetary theory, hence for price theory, whatever the choice of a particular value theory.

We would like to thank Sylvain Sorin and Augusto Graziani for their helpful comments. Expressed views, errors included, are our responsiability.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

eBook
USD 16.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Benetti, C. (1985) ‘Economie monétaire et économie de troc: la question de l’unité de compte commune’, Economie Appliquée, vol. 1, pp. 85–109.

    Google Scholar 

  • Benetti, C. (1996) ‘The Ambiguity of the Notion of Equilibrium with a Zero-Price for Money’, in G. Deleplace and E. Nell (eds), Money in Motion, London: Macmillan) pp. 366–76.

    Google Scholar 

  • Cartelier, J. (1991) ‘Marx’s theory of value, exchange and surplus value: a suggested interpretation’, Cambridge Journal of Economics, vol. 15, pp. 257–69.

    Google Scholar 

  • Gale, D. (1982) Money: in equilibrium (Cambridge: Cambridge University Press).

    Google Scholar 

  • Hahn, F. (1965) ‘On Some Problems of Proving the Existence of Equilibrium in a Monetary Economy’, in F. H. Hahn and F. R. P. Brechling (eds), The Theory of Interest Rates (London: Macmillan). pp. 126–35.

    Google Scholar 

  • Hahn, F. (1971) ‘Equilibrium with Transaction Costs’, reproduced in F. Hahn, Money, Gowth and Stability (Cambridge, Mass.: MIT Press), pp. 75–104.

    Google Scholar 

  • Hicks, J. R. (1935) ‘A Suggestion for Symplifying the Theory of Money’, Economica, vol. 2, pp. 1–19.

    Article  Google Scholar 

  • Marx, Karl (1967) Le Capital, vol 1 (Paris: La Pléiade, NRF).

    Google Scholar 

  • Marx, Karl (1973) Grundrisse, Foundations of the Critique of Political Economy (New York: Vintage Books).

    Google Scholar 

  • Marx. K. (1976) Capital. vol I (Harmondsworth: Penguin).

    Google Scholar 

  • Ostroy, J. M. and R. M. Starr (1974) ‘Money and the decentralization of exchange’, Econometrica, vol. 42, no. 6, pp. 1093–113.

    Article  Google Scholar 

  • Rebeyrol, A. (1994) La genèse de la théorie de léquilibre économique général: essai sur loeuvre de Léon Walras (Paris: Thèse).

    Google Scholar 

Download references

Authors

Editor information

Editors and Affiliations

Copyright information

© 1998 Palgrave Macmillan, a division of Macmillan Publishers Limited

About this chapter

Cite this chapter

Benetti, C., Cartelier, J. (1998). Money, Form and Determination of Value. In: Bellofiore, R. (eds) Marxian Economics: A Reappraisal. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-26118-5_10

Download citation

Publish with us

Policies and ethics