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Re: Minsky, FIH, and stability

They're Marx's formulas representing first, the cycle in which a commodity
is exchanged for money, and the money is then exchanged for a commodity.
The second is life from a capitalist's point of view: money is exchanged
for a commodity (like labor) which is exchanged for a greater value of
money than s/he threw into circulation with the M. M' is money swollen by
profit, the end of all capitalist production.

Doug

Doug Henwood [dhenwood@xxxxxxxxx]
Left Business Observer
212-874-4020 (voice)
212-874-3137 (fax)


On Fri, 21 Jan 1994, Name withheld by request wrote:

> What does C-M-C and M-C-M+ mean?
>
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