LEADER 04177nam 22006495 450 001 9910639895403321 005 20240326130927.0 010 $a9781137565648 010 $a1137565640 024 7 $a10.1057/978-1-137-56564-8 035 $a(MiAaPQ)EBC7166091 035 $a(Au-PeEL)EBL7166091 035 $a(CKB)25913977200041 035 $a(DE-He213)978-1-137-56564-8 035 $a(EXLCZ)9925913977200041 100 $a20221231d2023 u| 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aExplorations in Marx's Theory of Price-Why Marx Is Still Relevant for Understanding the Modern Economy $eVolume I: Money and Money Prices /$fby Howard Nicholas 205 $a1st ed. 2023. 210 1$aLondon :$cPalgrave Macmillan UK :$cImprint: Palgrave Macmillan,$d2023. 215 $a1 online resource (327 pages) 311 08$a9781137565655 311 08$a1137565659 311 08$a9781137565631 311 08$a1137565632 320 $aIncludes bibliographical references and index. 327 $aChapter 1: Introduction -- Chapter 2: Marx -- Chapter 3: Smith -- Chapter 4: Ricardo -- Chapter 5: Sraffa -- Chapter 7: Marxists -- Chapter 8: Neoclassicals -- Chapter 9: Conclusions. 330 $aThis book is the first volume in a three-volume series that takes an in-depth look at the relevance of Marx's economics for understanding the modern economy. The focus of this volume is the money prices of commodities. In light of the failure of central banks to stimulate inflation through printing of money, it is now accepted that there are problems with the mainstream approach to the explanation of prices. Howard Nicholas underlines the shortcomings of this and other approaches to the explanation of prices, particularly their concepts of the value of the commodity and money. He argues the problems with all other approaches are manifest in their inability to explain the changes in the relative prices of commodities, taking place in the context of changes in the aggregate money price level as well as independently. He contends that of paramount importance in Marx's explanation is that prices are set by producers prior to putting their commodities into the process of circulation, undermining the notion they are determined by the supply of and demand for the commodities in the process of exchange. Marx's approach to the explanation of prices is also contrasted with those of Neoclassicals, Post-Keynesians and Sraffa, with a view to highlighting the shortcomings in these approaches as bases for their understanding and explanations of money and prices. This book will be of interest to academics and students of price theory, money and finance, political economy, and the history of economic thought. Howard Nicholas retired in 2020 as associate professor in economics at the International Institute of Social Studies, Erasmus University of Rotterdam, The Netherlands. He has published in the areas of inflation, development theory, financial markets, the global economy, and the macro dynamics of a number of countries. He is the author of Marx's Theory of Price and its Modern Rivals (Palgrave Macmillan). 606 $aEconomics$xHistory 606 $aMarxian economics 606 $aEconomics 606 $aFinance 606 $aHistory of Economic Thought and Methodology 606 $aMarxist Economics 606 $aPolitical Economy and Economic Systems 606 $aFinancial Economics 615 0$aEconomics$xHistory. 615 0$aMarxian economics. 615 0$aEconomics. 615 0$aFinance. 615 14$aHistory of Economic Thought and Methodology. 615 24$aMarxist Economics. 615 24$aPolitical Economy and Economic Systems. 615 24$aFinancial Economics. 676 $a780 700 $aNicholas$b Howard$01274973 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910639895403321 996 $aExplorations in Marx's theory of price, Why Marx is still relevant for understanding the modern economy$93362770 997 $aUNINA