"The market does not generate its own currency initially and
consequently monetary economies are intimately imbricated with the
state from their origin."
I agree with Terry's statement above. But where do we go for recent
Marxian analysis of the state?
At 07:03 PM 12/30/2008, you wrote:
>I think that the chartalist idea makes a lot of sense. But the key
issue is whether or not the money is scarce.< JD
Taxation creates the demand for money in this argument. It also
makes sure the money is scarce by removing it from the
economy. Government spending supplies the money in the first
place. Jim is right this all depends on the effective power of the
state. This is an alternative to the standard origin story where a
universal commodity intermediates what used to be barter. The
market does not generate its own currency initially and consequently
monetary economies are intimately imbricated with the state from their origin.
Terry
_______________________________________________
pen-l mailing list
[email protected]
https://lists.csuchico.edu/mailman/listinfo/pen-l
_______________________________________________
pen-l mailing list
[email protected]
https://lists.csuchico.edu/mailman/listinfo/pen-l
