لایب سان

Howard Nicholas
International Institute of Social
Studies
Erasmus University Rotterdam
Rotterdam, Zuid-Holland
The Netherlands
ISBN 978-1-137-56563-1 ISBN 978-1-137-56564-8 (eBook)
https://doi.org/10.1057/978-1-137-56564-8
© The Editor(s) (if applicable) and The Author(s) 2023, corrected publication 2023
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Contents 1 Introduction 1 1.1 Nicholas (2011) 1 1.2 What Is to Be Done 3 References 6 2 Marx’s Explanation of Money Price 7 2.1 Introduction 7 2.2 Object and Approach 8 2.2.1 Object 8 2.2.2 Approach 8 2.3 Production and Value of the Commodity 11 2.3.1 Production 11 2.3.2 Value of the Commodity 13 2.4 Exchange and Exchange Value of the Commodity 19 2.4.1 Exchange 19 2.4.2 Exchange Value of the Commodity 21 2.5 Money and Its Functions 25 2.5.1 Money 25 2.5.2 Functions of Money 28 2.6 Value of Money 34 2.7 Exchange Value of Money 37 2.8 Money Price of the Commodity 39 References 45 vii viii CONTENTS 3 Smith’s Explanation of Money Price 47 3.1 Introduction 47 3.2 Object and Approach 48 3.3 Production and Value of the Commodity 50 3.3.1 Production 50 3.3.2 Value of the Commodity 55 3.4 Exchange and Exchange Value of the Commodity 62 3.4.1 Exchange 62 3.4.2 Exchange Value of the Commodity 63 3.5 Money and Its Functions 68 3.5.1 Money 68 3.5.2 Functions of Money 70 3.6 Value of Money 72 3.7 Exchange Value of Money 76 3.8 Money Price of the Commodity 81 References 85 4 Ricardo’s Explanation of Money Price 87 4.1 Introduction 87 4.2 Object and Approach 87 4.3 Production and Value of the Commodity 89 4.3.1 Production 89 4.3.2 Value of the Commodity 90 4.4 Exchange and Exchange Value of the Commodity 95 4.4.1 Exchange 95 4.4.2 Exchange Value of the Commodity 96 4.5 Money and Its Functions 103 4.5.1 Money 103 4.5.2 Functions of Money 106 4.6 Value of Money 108 4.7 Exchange Value of Money 112 4.8 Money Price of the Commodity 117 References 122 5 Sraffa’s Explanation of Money Price 123 5.1 Introduction 123 5.2 Object and Approach 124 5.3 Sraffa’s Economics as Ideology 126 CONTENTS ix 5.4 Production and Value of the Commodity 127 5.4.1 Production 127 5.4.2 Value of the Commodity 130 5.5 Exchange and Exchange Value of the Commodity 137 5.5.1 Exchange 137 5.5.2 Exchange Value of the Commodity 138 5.6 Money and Its Functions 144 5.6.1 Money 144 5.6.2 Functions of Money 147 5.7 Value of Money 148 5.8 Exchange Value of Money 152 5.9 Money Price of the Commodity 155 References 159 6 Post-Keynesian Explanations of Money Price 161 6.1 Introduction 161 6.2 Object and Approach 162 6.3 Post-Keynesian Economics as Ideology 164 6.4 Production and Value of the Commodity 165 6.4.1 Production 165 6.4.2 Value of the Commodity 168 Keynes’ Labour Theory of Value 173 6.5 Exchange and Exchange Value of the Commodity 174 6.5.1 Exchange 174 6.5.2 Exchange Value of the Commodity 176 6.6 Money and Its Functions 181 6.6.1 Money 181 6.6.2 Functions 182 6.7 Value of Money 184 6.8 Exchange Value of Money 186 6.9 Money Price of the Commodity 189 References 191 7 Marxist Interpretations of Marx’s Explanation of Money Price 195 7.1 Introduction 195 7.2 Object and Approach 196 7.2.1 Object 196 7.2.2 Approach 197 x CONTENTS 7.3 Production and Value of the Commodity 199 7.3.1 Production 199 7.3.2 Value of the Commodity 201 TIMs 202 MIMs 205 7.4 Exchange and Exchange Value of the Commodity 211 7.4.1 Exchange 211 7.4.2 Exchange Value of the Commodity 213 TIMs 213 MIMs 217 7.5 Money and Its Functions 221 7.5.1 Money 221 7.5.2 Functions of Money 225 7.6 Value of Money 228 7.7 Exchange Value of Money 233 7.8 Money Price of the Commodity 238 7.8.1 TIMs 238 7.8.2 MIMs 241 7.8.3 The Source of the Problem 245 References 245 8 Neoclassical Explanations of Money Price 249 8.1 Introduction 249 8.2 Object and Approach 250 8.3 Neoclassical Economics as Ideology 253 8.4 Production and Value of the Commodity 254 8.4.1 Production 254 8.4.2 Value of the Commodity 257 SVNs 258 OVNs 259 8.5 Exchange and Exchange Value of the Commodity 262 8.5.1 Exchange 262 8.5.2 Exchange Value of the Commodity 264 SVNs 265 OVNs 270 8.6 Money and Its Functions 274 8.6.1 Money 274 8.6.2 Functions 277 8.7 Value of Money 280 CONTENTS xi 8.8 Exchange Value of Money 284 8.9 Money Price of the Commodity 291 8.9.1 SVNs 292 8.9.2 OVNs 296 8.9.3 OVN Textbooks 298 8.9.4 The Source of the Problem 299 References 301 9 Conclusions 303 Correction to: Marx’s Explanation of Money Price C1 Author Index 307 Subject Index 311

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