Titlebook: Explorations in Marx’s Theory of Price—Why Marx Is Still Relevant for Understanding the Modern Econo; Volume I: Money and Howard Nicholas

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BURSA

,Marx’s Explanation of Money Price,on of the bulk of all other commodities as well as raw material prices. In an inconvertible fiat currency setting it requires him to explain the relative money price of a commodity in the same way as in the case of a commodity money setting, but the aggregate money price level by the economy-wide pr

convulsion

,Sraffa’s Explanation of Money Price, turn requires him to illogically see changes in relative money prices taking place independently of changes in aggregate money prices and, counterintuitively, deny the influence of the productivity of labour on both the relative money prices of commodities and aggregate money price level.

intellect

,Marxist Interpretations of Marx’s Explanation of Money Price,us manifestation of these mistaken interpretations of Marx’s explanation of the money price of the commodity is that they interpret him seeing changes in the relative money prices of commodities taking place independently of changes in the aggregate money price level, and not also in the context of

gimmick

,Neoclassical Explanations of Money?Price,other relative to the quantity of these commodities as a composite cluster. These explanations require Neoclassicals to see changes in relative money prices taking place independently of changes in the aggregate money price level and?deny that changes in?the productivity of labour have a bearing on

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ion, undermining the notion they are determined by the supply of and demand for the commodities in the process of exchange. Marx’s approach to the explanation of prices is also contrasted with those of Neoclass978-1-137-56564-8

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recession