[lbo-talk] The German Debate on the Monetary Theory of Value

c b cb31450 at gmail.com
Wed Dec 28 11:50:53 PST 2011


Angelus Novus

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Charles, I find it hard to believe that you of all people would deny the importance of reading and understanding Marx for the new generation of protest movements.

Marx's understanding of capitalism is still the best one around, and if the increasing size of the reading courses at the Rosa Luxemburg Foundation are any indication (the last Volume I course had to be divided into five smaller groups!), many of the young protest generation are at least intrigued enough by Marx to investigate further.

^^^^ CB: Certainly. Just a couple of days ago I posted Marx's section on "The General Formula for Capital" on the Occupy Wall Street facebook page. And I put a part of _ Value, Price and Profit_ and Chapter 32 of Vol. 1 of Capital there before that. ( and Lenin's _Imperialism_ chapter on monopoly.)

I didn't say Marx is not relevant. I asked you to focus in on the particular part of Marx ( there is quite a bit of it) you are interested in and make a specific connection to the praxis.

What it the connection between debt, money and the situation of the 99%, the working class ? Does creditors' labor really produce as much value as they get paid ?

You seem to be saying there can be no commodity exchange without money; and Graeber seems to say no exchange at all without credit and debt. OK certainly that's true today. So, so what ? Are you saying socialism will have to have money in order to organize exchange ?



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