Which Way Forward for Marxist Value Theory? A Rejoinder to Moseley

Laibman, David

doi:10.13169/worlrevipoliecon.9.3.0410

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World Review of Political Economy

Volume 9, Issue 3

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Which Way Forward for Marxist Value Theory? A Rejoinder to Moseley

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Author(s): David Laibman

Publication date (Print): 1 October 2018

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: Marxist value theory, transformation problem, Piero Sraffa, macro-monetary interpretation

Abstract

Fred Moseley's reply to my review essay on his Money and Totality essentially repeats the argument that was criticized at length in that essay. It rests on a grave misinterpretation of my own position and does not achieve its objective: to build upon Marx's work and provide solid foundations for ongoing progress along Marxist lines. The crucial logical incoherence of the argument in Money and Totality remains and is an obstacle to the goal that Moseley and I share: to continue the work begun by Marx and to use that work in the service of progressive social transformation around the world.

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Journal

Journal ID (doi): 10.2307/j50005553

Journal ID (jcode): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN: 2042-891X

ISSN: 2042-8928

Publication date (Print): 1 October 2018

Volume: 9

Issue: 3 ( doiID: 10.13169/worlrevipoliecon.9.issue-3 )

Pages: 410-419

Article

Publisher ID: worlrevipoliecon.9.3.0410

DOI: 10.13169/worlrevipoliecon.9.3.0410

SO-VID: adb922d2-8be4-491e-8fa6-5e3bbf54e280

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ScienceOpen disciplines: Political economics

Keywords: Marxist value theory,transformation problem,Piero Sraffa,macro-monetary interpretation

References

Laibman, D. 2018. “Money and Totality: Another Round of Debate on Value Formation and Transformation.” World Review of Political Economy 9 (1): 21–40.
Laibman, D. 2019 (forthcoming). “Forces of Production and Relations of Production.” In The Oxford Handbook of Karl Marx, edited by M. Vidal, T. Rotta, T. Smith, and P. Prew, 77–96. New York: Oxford University Press.
Marx, K. 1967a. Capital. Vol. I. New York: International Publishers.
Marx, K. 1967b. Capital. Vol. III. New York: International Publishers.
Moseley, F. 2016. Money and Totality: Marx's Logical Method in Capital and the End of the “Transformation Problem.” Leiden and Boston: Brill Publishers.
Moseley, F. 2018. “Which Way Forward: Marx's Theory or Sraffa's Theory? A Reply to Laibman.” World Review of Political Economy 9 (2): 148–163.
Sraffa, P. 1960. Production of Commodities by Means of Commodities: Prelude to a Critique of Economic Theory. Cambridge: Cambridge University Press.
Steedman, I. 1977. Marx after Sraffa. London: New Left Books.

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[1] Laibman, D. 2018. “Money and Totality: Another Round of Debate on Value Formation and Transformation.” World Review of Political Economy 9 (1): 21–40.

[2] Laibman, D. 2019 (forthcoming). “Forces of Production and Relations of Production.” In The Oxford Handbook of Karl Marx, edited by M. Vidal, T. Rotta, T. Smith, and P. Prew, 77–96. New York: Oxford University Press.

[3] Marx, K. 1967a. Capital. Vol. I. New York: International Publishers.

[4] Marx, K. 1967b. Capital. Vol. III. New York: International Publishers.

[5] Moseley, F. 2016. Money and Totality: Marx's Logical Method in Capital and the End of the “Transformation Problem.” Leiden and Boston: Brill Publishers.

[6] Moseley, F. 2018. “Which Way Forward: Marx's Theory or Sraffa's Theory? A Reply to Laibman.” World Review of Political Economy 9 (2): 148–163.

[7] Sraffa, P. 1960. Production of Commodities by Means of Commodities: Prelude to a Critique of Economic Theory. Cambridge: Cambridge University Press.

[8] Steedman, I. 1977. Marx after Sraffa. London: New Left Books.