Capital Par Excellence: On Money as an obscure thing

What is it about?

Against the background of the contemporary debate about financialisation, the paper conceptualises the capitalist labour economy as fundamentally a monetary system. It argues that money is not a capitalist means of organising its labour economy but that it is rather a capitalist end. The argument examines and finds wanting conceptions of money in political economy, including Keynesianism and neoliberalism, and argues that the debate about financialisation is fundamentally based on he propositions of political economy. It holds that Marx’s critique of political economy conceives of money as the form of value and expounds money-making as the purpose of the capitalist labour economy. Thus, the labour theory of value is fundamentally a monetary theory of value, labour is the means of valorisation, and that is, of money in process, and as such capital. Making money out of money is capital as its most rational. In the form of credit, money posits wealh as a claim on future surplus value.

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Why is it important?

Money, Finance, Wealth, human subsistence and social reproduction.