WW archiveIssue 903
01 March 2012
The decline of money
If we are to understand the present crisis we need to grasp the decaying relationship between money, production and value. Hillel Ticktin discusses the growth of fictitious capital and impossibility of getting money to make money
The problem when looking at Marx’s analysis of money is that he discusses it everywhere. Right from the beginning in the Economic and philosophic manuscripts (1844) there is a detailed discussion of money, though in completely different terms from what we see later. In the Grundrisse (1857) we have another discussion, which goes on right the way through. And, of course, in Capital itself (1867-83) this is continued in great detail. In other words, a huge volume of space would be needed to do justice to all that Marx writes about money. It is not as though he can be accused of repeating himself in all these works. So the most I can do here is give my own understanding on what he did write and piece together various statements as an introduction to the subject.
Amputator; Twisted; Public interest; Please explain
With Syria in the sights of the imperialists and the bourgeois media, James Turley wonders where the Left and anti-war movement is.
The former premier may have been 'cleared' on a technicality, writes Toby Abse, but the repercussions of the whole affair persist in both the Italian and British establishments
What should be the attitude of Marxists to Keynesianism? Arthur Bough responds to Mike Macnair
Robbie Rix is pleased to see more donations and standing orders, keep it up comrades, he says.
Rhetoric about Iran is all too reminiscent of the prelude to the 2003 invasion of Iraq, warns Ben Lewis
Dave Douglass reviews: David Temple 'The Big Meeting: a history of the Durham Miners' Gala' TUPS books, 2011, pp243,
With the government forced into a humiliating climbdown on workfare, Laurie Smith looks at where the welfare system is going and the Left response