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Marx and the Macro-monetary Foundation of Microeconomics

In: The Constitution of Capital

Author

Listed:
  • Riccardo Bellofiore

Abstract

In many of his recent writings, and also in his chapter for this book, Fred Moseley has stressed that Marx’s theory must be interpreted as a ‘macro’ and ‘monetary’ approach, which grounds the determination of prices of production.1 Moseley recognizes that others have put forward a ‘macro-monetary’ reading of Marxian theory. Rather than engage in a dialogue with these other perspectives, Moseley has been content to refine his own interpretation. Open dialogue and a detailed criticism are necessary to identify similarities and differences between these positions.

Suggested Citation

  • Riccardo Bellofiore, 2004. "Marx and the Macro-monetary Foundation of Microeconomics," Palgrave Macmillan Books, in: Riccardo Bellofiore & Nicola Taylor (ed.), The Constitution of Capital, chapter 7, pages 170-216, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-3864-0_7
    DOI: 10.1057/9781403938640_7
    as

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