Money and Totality

MONEY AND TOTALITY:
A Macro-Monetary Interpretation of Marx’s Logic In Capital and the End of the “Transformation Problem”

a book discussion with author Fred Moseley
at Unnameable Books
600 Vanderbilt Avenue, Brooklyn, NY

Correcting a longstanding misinterpretation, Moseley argues that there is no ‘transformation problem’ in Marx’s economic theory. This ambitious book presents a comprehensive new ‘macro-monetary’ interpretation of Marx’s logical method in Capital which emphasizes two points: (1) Marx’s theory is primarily a macroeconomic theory of the total surplus-value produced in the economy as a whole; and (2) Marx’s theory is a monetary theory and the circuit of money capital, M-C-M, is its logical framework.

“The complete form of the process is therefore M-C-M’, where M =M + ∆M, i.e. the original sum advanced plus an increment. This increment or excess over the original value I call ‘surplus-value’.”
—Karl Marx, Capital, Volume 1

“The capitalists, like hostile brothers, divide among themselves the loot of other people’s labor, so that on an average one receives the same amount of unpaid labor as another.”
—Karl Marx, Theories of Surplus-Value, Volume 2

Fred Moseley is Professor of Economics at Mount Holyoke College. He is the author of The Falling Rate of Profit in the Postwar United States Economy and editor of Marx’s Logical Method: A Reappraisal, New Investigations of Marx’s Method, Heterodox Economic Theories: True or False?, and Marx’s Theory of Money: Modern Reappraisals.

Capital: Volume I, Chapters 15-33

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Capital: Volume I, Chapters 15-33

$125.00

Sundays from 5:30 to 7:30PM
February 1 through March 29, 2015
Email for location

Description

Marx’s Capital remains the fundamental text for understanding how capitalism works. By unraveling the commoditized forms of our interactions with nature and each other, it provides tools to understand capitalism’s astounding innovativeness and productivity, intertwined with growing inequality and misery, alienation, the stunting of human potential, and ecological destruction all over the globe. In this way, Capital offers the reader a methodology for doing our own analysis of current developments. On top of that, many (though not all) sections of Volume I are surprisingly accessible and beautifully written.

This group began in September, supplementing our own intensive reading of the text with new on-line aids and current articles that illustrate capitalism’s developmental tendencies, or what Marx calls its laws of motion. We plan to finish Volume I this term.

Along with our own intensive reading of the text, we’ll use new online and visual aids and current articles that illustrate capitalism’s developmental tendencies or what Marx calls its laws of motion.

Participants will be encouraged to be as active as they desire through reports and presentations.

New folks are welcome to join if this is a logical place for you to jump in or jump back in. For more information and location of the class, please e-mail jucelli@igc.org.

Juliet Ucelli has taught Capital at the New York Marxist School and labor economics for labor unions, as well as adult basic education and GED preparation. Currently a high school social worker, she has written on Eurocentrism in Marxist theory, the politics of inner-city public schooling and other topics. Her “Introduction to Capital, Volume I” can be accessed at http://thecommonsbrooklyn.org/intensive-readings-2014

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Capital: A Critique of Political Economy by Karl Marx Volume 1

Marx’s Capital remains the fundamental text for understanding how capitalism works. By unraveling the commoditized forms of our interactions with nature and each other, it provides tools to understand capitalism’s astounding innovativeness and productivity, intertwined with growing inequality and misery, alienation, stunting of human potential, and ecological destruction all over the globe. In this way, Capital offers the reader a methodology for doing our own analysis of current developments.

On top of that, many (though not all) sections of Volume I are surprisingly accessible and beautifully written. The class will aim to cover major sections of Volume I by the holiday break, with its pace to be determined by participants’ needs, and may continue after that to finish Volume I. Along with our own intensive reading of the text, we’ll use new on-line and visual aids and current articles that illustrate capitalism’s developmental tendencies or what Marx calls its laws of motion. Participants will be encouraged to be as active as they desire through reports and presentations.

Juliet Ucelli has taught Capital at the New York Marxist School and labor economics for labor unions, as well as adult basic education and GED preparation. Currently a high school social worker, she has written on Eurocentrism in Marxist theory, the politics of inner city public schooling and other topics.

Her “Introduction to Capital, Volume I” can be accessed at http://thecommonsbrooklyn.org/intensive-readings-2014.

Suggested donation: $95 to $125
No one turned away for inability to pay