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The Monetary Aspects of the Capitalist Process in the Marxian System: An Investigation from the Point of View of the Theory of the Monetary Circuit

In: Marx’s Theory of Money

Author

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  • Riccardo Bellofiore

Abstract

Karl Marx’s critique of political economy is a unique case in the history of economic thought. To speak of monetary ‘aspects’ of the Marxian system is not enough even, because what he offers is a view of the capitalist economic process as a whole where production, circulation and distribution are deeply affected by money and finance, so that any dichotomy between the ‘real’ and the ‘monetary’ is futile. Indeed, if there is an author for whom the label monetary theory of production is appropriate, this is Marx.

Suggested Citation

  • Riccardo Bellofiore, 2005. "The Monetary Aspects of the Capitalist Process in the Marxian System: An Investigation from the Point of View of the Theory of the Monetary Circuit," Palgrave Macmillan Books, in: Fred Moseley (ed.), Marx’s Theory of Money, chapter 8, pages 124-139, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52399-9_9
    DOI: 10.1057/9780230523999_9
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    Cited by:

    1. Engelbert Stockhammer & Collin Constantine & Severin Reissl, 2020. "Explaining the Euro crisis: current account imbalances, credit booms and economic policy in different economic paradigms," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 43(2), pages 231-266, April.
    2. Engelbert Stockhammer, 2008. "Is The Nairu Theory A Monetarist, New Keynesian, Post Keynesian Or A Marxist Theory?," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 479-510, July.
    3. Duque Garcia, Carlos Alberto, 2021. "Economic Growth and the Rate of Profit in Colombia 1967-2019: A VAR Time-Series Analysis," MPRA Paper 109890, University Library of Munich, Germany.
    4. Marco Veronese Passarella & Hervé Baron, 2015. "Capital’s humpback bridge: ‘financialisation’ and the rate of turnover in Marx’s economic theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 39(5), pages 1415-1441.
    5. Passarella, Marco & Baron, Hervé, 2013. "Capital's Pons Asinorum: the Rate of Turnover in Karl Marx's Analysis of Capitalist Valorisation," MPRA Paper 48306, University Library of Munich, Germany, revised 14 Jul 2013.
    6. Labrinidis, George, 2014. "The forms of world money," MPRA Paper 59962, University Library of Munich, Germany.

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