Now that Marxism is dead and buried, so it is said, we can read Marx afresh. Yet to do so, writes Anders Ramsay, previous interpretations of Marx need to be corrected. In particular, that which sees money and credit as surface phenomena, based on Marx’s naturalistic understanding of value as being inherent in a commodity. This strand of Marxism overlooks the contemporary role played by credit in the reproduction of capital.
21 December 2009