David’s Reviews > Frontiers of Political Economy: The Dialectics Of Value, Prices And Exploitation In The Contemporary World Economy > Status Update

As long as the dollar is accepted as the international reserve currency and means of payment it is enough for the US to print dollars in order to pay for imported commodities ... However, the more the US loses its technological lead, the less is the dollar demanded both as a means of payments and as a reserve currency.

Monstrously excellent postgrad level exploration of the labour theory of value. Maybe given a better title Carchedi would have conquered the space David Harvey occupies today.

"To sum up, a decrease in the production of (surplus) value, and thus a general crisis of profitability in value terms, is caused by increased productivity (and OCC) by some capitals. This manifests itself as a crisis of realization (difficulty selling all the output at the old prices) and, through it, as a crisis of profitability in money terms for some, or perhaps all, capitals except the innovative ones."

Excellent. Reads like a textbook but Carchedi knows his stuff. Anticipates Shaikh and engages with the Value-form lunatics from a useful angle. Keeps marxology to a minimum, everything is tethered in practice