Boston Basic Income #139: Marx and Money

In Volume 3, Part 5 of Capital, Karl Marx tackles the question of money. Marx is famous for describing the economy, and capitalism in particular, in terms of labor. In Marx's view, what does money represent? What problem does money solve? How does Marx's theory of money connect up with how we think about basic income? What would he say about a world in which overnight interest rates are zero?

Economist Karen Hevelg Petersen will join us to discuss. Petersen has studied Marx at a deeper level than many Marxists. She is also an expert on capital markets, exchange rates, and public finance management.

This week's reading is a recent paper by Petersen entitled "The Money View and Marx's Theory of Money and Credit"

https://www.academia.edu/45112296/The_Money_View_and_Marxs_Theory_of_Money_and_Credit

Previous related Boston Basic Income topics have included:

BBI #49: Debt and Credit
https://youtu.be/iwSNkGTJYts

BBI #111: Labor Theory of Value
https://youtu.be/415xGZanunI

BBI #137: Modern Money
https://anchor.fm/bostonbasicincome/episodes/137--Modern-Money-eqdgc4

By default, audience cameras and microphones will remain disabled. To ask a question, type it in the Zoom chat.

If you'd like to ask your question aloud, also click the "Raise Hand" button on the "Participants" tab. The hosts will unmute you when it's your turn.

The discussion will be streamed live at this URL:
https://www.youtube.com/bostonbasicincome/live

It will also be available in podcast form in the following days:
https://anchor.fm/bostonbasicincome

Image by Matd13 on Wikimedia Commons
https://commons.wikimedia.org/wiki/File:5_Mark_BRD_1983_-_100.Todestag_von_Karl_Marx-.JPG