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在发表于2011年《激进政治经济学评论》的一篇文章中,莫斯里在马克思主义理论传统内,讨论了不可兑换信用货币的价值是如何决定的。在本篇评论中,笔者赞同莫斯里的某些重要观点,同时也批评了他的某些见解。这些批评一方面关注由“新解释”定义的MELT(劳动时间的货币表现)中所谓的循环论证,另一方面考察莫斯里的MELT与资本积累的关系。在莫斯里定义的不可兑换信用货币的MELT中,忽略了内嵌于置盐信雄-弗利-科茨工作的理论传统,后者从不同侧面指出了资本积累或新投资的动机和实际规模在决定不可兑换信用货币价值时的关键作用。
In an article published in the 2011 Review of Radical Political Economy, Mosley discusses how the value of non-convertible credit money is determined within the tradition of Marxist theory. In this review, I agree with some of Mosley’s important points, but also criticized some of his ideas. These criticisms concern, on the one hand, the so-called circular argument in MELT (Monetary Performance of Labor Time) as defined by “New Interpretation ” and on the other hand consider the relationship between Mosley’s MELT and capital accumulation. In MELS, a non-convertible credit currency defined by Mosley, the theoretical tradition embedded in the salt letter-Foley-Coates work is ignored, with the latter pointing out the motivation and actual size of capital accumulation or new investment from different perspectives The key role in determining the value of a non-convertible credit currency.