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This folder includes:
Handwritten note cards titled:

  • Velocity of Circulation & Crises, on gold sufficiency when k = 1, the credit system increasing velocity on a smaller base of hard cash, and sensitivity to fluctuations with declining reserve ratio (2/21/77)
  • Hoarding, on holding the money-form of a commodity, citing Capital Vol. II, Ch. V, p. 126 on value in its always convertible form
  • Circulation of Money, on ideal prices prior to exchange, regulating ideal price vs. actual ideal price, and the Walrasian auctioneer
  • Essence of Money-Commodity, on circulation requirements, the historical development of the money-commodity as materialization of these requirements, and consequences of non-fulfillment including the Bank Act of 1844 (7/77)
  • Hilferding on Fullarton (pp. 280–31), on closed vs. free minting, gold bullion prices, coin equivalents, and supply of money, with Marx’s quotes on the quantity theory and paper money
  • Tooke on Bank-Notes and Inconvertible Paper Money, on withdrawal of bank-notes, higher denomination functions, and replacement by coin
  • Thomas Tooke, Inquiry into the Currency Principle (2nd ed., London, 1844), with chapter outline covering metallic circulation, currency theory, the connection between amount of currency and price of commodities, interest rates and prices, and review of the currency principle
  • Reference to Cannan’s The Paper Pound
  • Marx on Ricardo’s Theory of Money (Vol. III, pp. 546–548), on the value of metallic money, the quantity theory as tautology, and oversupply leading to deterioration in terms of trade
  • Marx on Money, from Poverty of Philosophy (Int’l Publishers, 1971), on money as a social relation, a production relation, and the necessity for a specific agency of exchange (p. 81)
  • Paper Money, on the issue of paper money in domestic circulation as a method of saving on the use of gold as domestic reserve funds (Capital, Vol. III, p. 562)
  • References on Gold Flows, on the importance of gold flows (p. 119), Grundrisse (pp. 872–873), gold in times of crisis, Dorman on the relationship between gold and interest rates, MELI edition of Grundrisse, and colonies having high wages and high profit rates (TSV II, p. 228)
  • Laws of Money Circulation & Capitalist Production, citing Capital Vol. II, Ch. XVIII, p. 332 on the quantity of circulating money being unchanged by the capitalist character of production
  • Nell’s Dissertation, on Marx’s error in the transformation problem, price determination vs. price calculation models, Sraffa, a reference system with a subsistence good, scarcity prices, long-run vs. short-run prices, and three theories of money and the value of money (cost of production, quantity, functional)
  • Variance of Price–Value Differences, on variance being greatest when equal rates of profit hold
  • Hoarding, on Marx’s structural reasons for hoarding vs. Keynesian theory (S > I), and the fundamentally psychological basis of Keynesian hoarding, referencing Barratt-Brown, Imperialism (p. 41)
  • Inflation, on the concept of inflation presupposing a measure of price, referencing Lawrence Norris on consumer credit as part of price
  • Hoards, on Fullarton, Regulation of Currency of the Bank of England (1845; repr. 1969), on hoards of gold and silver as an immense incalculable resource, absorption of excess supply, and the market rate of interest governing the amount of hoard (pp. 70–77)
  • Measure of Value, citing TSV III, Ch. XX, p. 138 on the measure of value being a commodity, and concrete vs. abstract labour (pp. 134–136)
  • Marx on Value of Money, from Poverty of Philosophy (Int. Publishers, 1963), on gold and silver as the only commodities whose value is not determined by cost of production, and the proportion between requirements of circulation and the amount of money issued (p. 87)
  • Gold & the Rate of Interest & Prices, on changes in the quantity of gold affecting only the interest rate, not commodity prices, citing Capital Vol. III, Ch. XXXIV, p. 551 (Int. Publishers, 1967)
  • Quantity Theory, on the basic proposition from C–M–C reasoning, the Keynesian modification allowing for leakages, and Marx’s point that an influx of gold is money-capital whose reinvestment depends on possibilities of further sales at normal profit
  • Inconvertible Notes (Flexible Exchange Rates), on convertible vs. inconvertible notes, fixed vs. flexible exchange rates, conditions under which inconvertibility is true, and Fullarton on assignats (p. 76)
  • Part of Capital is Always in the Form of Money, citing Capital Vol. II, Ch. XIV, p. 256 and Ch. XV, p. 266 on the three stages of money-capital, productive-capital, and commodity-capital
  • Sum of Prices, on the sum of prices determining the quantity of money required for circulation, exchange at values vs. prices of production, and the indeterminacy of the sum of prices
  • C–M–C & M–C–M′, on money as a medium of circulation vs. means of payment, tokens of value, bills of exchange, simple credit money, and the circuit M–C–M′ departing from circulation
  • Credit and Gold, citing Capital Vol. III, Ch. XXXV, on the monetary system as essentially Catholic and the credit system as essentially Protestant, credit resting upon the basis of the monetary commodity, and credit based ultimately on collateral (pp. 572, 606)
  • Gold as Basis of Money, on world-market money reduced to its minimum, serving as security for convertibility, real money as world-market money, citing Capital Vol. III, Ch. XXXIII, p. 536
  • (Gold) Money & Effective Demand, on gold production as a side issue and implications when the needs of circulation decline across different theories
  • Credit & Role of Prices, referencing Capital Vol. III, Ch. XV, p. 254
  • Circulation of Money & Circulation of Capital, citing Grundrisse (p. 517) on circulation of money appearing as determined by the circulation of capital
  • Gold & Silver & Circulation of Commodities (1–6), from Grundrisse (Nicolaus ed., 1973), on sudden increases in supply, the quantity of precious metals having no influence on prices, circulation properly beginning where gold and silver cease to be commodities, monetary circulation determined by particular laws, the concept of price preceding realization, effective demand requiring demand payable in money, and the splitting of exchange into purchase and sale making speculation possible (pp. 169–200) 

Comments

This is from Professor Shaikh's collection of over 1800 index cards  Not all folders had cards behind them and those that did varied in the number of cards.

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