Coverart for item
The Resource The value of money, Prabhat Patnaik

The value of money, Prabhat Patnaik

Label
The value of money
Title
The value of money
Statement of responsibility
Prabhat Patnaik
Creator
Author
Subject
Genre
Language
eng
Summary
Why is money more valuable than the paper on which it is printed? Monetarists link the value of money to its supply and demand, believing the latter depends on the total value of the commodities it circulates. According to Prabhat Patnaik, this logic is flawed. In his view, in any nonbarter economy, the value we assign to money is determined independently of its supply and demand. Through an original and provocative critique of monetarism, Patnaik advances a revolutionary understanding of macroeconomics that highlights the "propertyist" position of Karl Marx and John Maynard Keynes. Unlike the usual division between "classical" economists (e.g., David Ricardo and Marx) and the "marginalists" (e.g., Carl Menger, William Stanley Jevons, and Léon Walras), Patnaik places "monetarists," including Ricardo, on one side, while grouping propertyist writers like Marx, Keynes, and Rosa Luxemburg on the other. This second group subscribes to the idea that the value of money is given from outside the realm of supply and demand, therefore making money a form in which wealth is held. The fact that money is held as wealth in turn gives rise to the possibility of deficiency of aggregate demand under capitalism. It is no accident that this possibility was highlighted by Marx and Keynes while going largely unrecognized by Ricardo and contemporary monetarists. At the same time, Patnaik points to a weakness in the Marx-Keynes tradition¿namely, its lack of any satisfactory explanation of why the value of money, determined from outside the realm of supply and demand, remains relatively stable over long stretches of time. The answer to this que
Cataloging source
JSTOR
http://library.link/vocab/creatorName
Patnaik, Prabhat
Illustrations
illustrations
Index
index present
Language note
In English
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/subjectName
  • Money
  • BUSINESS & ECONOMICS
  • Money
Label
The value of money, Prabhat Patnaik
Instantiates
Publication
Copyright
Note
Previously published: New Delhi : Tulika Books, 2008
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Table of Contents ; Preface; Introduction; 1. The Great Divide in Economics; Part I. The Infirmity of Monetarism; 2. The Monetarist Theory; 3. Equilibrium and Historical Time; 4. The Modus Operandi of Monetarist Theory; 5. The Cash Transactions Approach to Monetarism; 6. An Excursus on Rational-Expectation Equilibria; 7. An Excursus on Methodological Individualism; 8. An Excursus on Walrasian Equilibrium and Capitalist Production; Part II. The Superiority of Propertyism; 9. A Critique of Ricardo's Theory of Money; 10. Marx on the Value of Money; 11. An Excursus on Marx's Theory of Value
  • 12. Marx's Solution to a Dilemma13. Alternative Interpretations of Keynes; 14. A Digression on a Keynesian Dilemma; 15. Marx, Keynes, and Propertyism; Part III. The Incompleteness of Propertyism; 16. The Incompleteness of Propertyism; 17. A Solution to the Incompleteness; 18. Capitalism as a Mode of Production; 19. Money in the World Economy; 20. Capitalism and Imperialism; Notes; Bibliography; Index
Control code
ocn861793250
Dimensions
unknown
Extent
1 online resource (xx, 256 pages)
File format
unknown
Form of item
online
Isbn
9780231519212
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
JSTOR
Other control number
10.7312/patn14676
Other physical details
illustrations
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
(OCoLC)861793250
Label
The value of money, Prabhat Patnaik
Publication
Copyright
Note
Previously published: New Delhi : Tulika Books, 2008
Antecedent source
unknown
Bibliography note
Includes bibliographical references and index
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Table of Contents ; Preface; Introduction; 1. The Great Divide in Economics; Part I. The Infirmity of Monetarism; 2. The Monetarist Theory; 3. Equilibrium and Historical Time; 4. The Modus Operandi of Monetarist Theory; 5. The Cash Transactions Approach to Monetarism; 6. An Excursus on Rational-Expectation Equilibria; 7. An Excursus on Methodological Individualism; 8. An Excursus on Walrasian Equilibrium and Capitalist Production; Part II. The Superiority of Propertyism; 9. A Critique of Ricardo's Theory of Money; 10. Marx on the Value of Money; 11. An Excursus on Marx's Theory of Value
  • 12. Marx's Solution to a Dilemma13. Alternative Interpretations of Keynes; 14. A Digression on a Keynesian Dilemma; 15. Marx, Keynes, and Propertyism; Part III. The Incompleteness of Propertyism; 16. The Incompleteness of Propertyism; 17. A Solution to the Incompleteness; 18. Capitalism as a Mode of Production; 19. Money in the World Economy; 20. Capitalism and Imperialism; Notes; Bibliography; Index
Control code
ocn861793250
Dimensions
unknown
Extent
1 online resource (xx, 256 pages)
File format
unknown
Form of item
online
Isbn
9780231519212
Level of compression
unknown
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
JSTOR
Other control number
10.7312/patn14676
Other physical details
illustrations
Quality assurance targets
not applicable
Reformatting quality
unknown
Sound
unknown sound
Specific material designation
remote
System control number
(OCoLC)861793250

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