This ambitious book presents a comprehensive new 'macro-monetary' interpretation of Marx's logical method in Capital, based on substantial textual evidence, which emphasises two main points: (1) Marx's theory is primarily a macroeconomic theory of the total surplus-value produced in the economy as a whole; and (2) Marx's theory is a monetary theory from beginning to end and the circuit of money capital - M - C - M - is the logical framework of Marx's theory.
Correcting a longstanding misinterpretation, Moseley argues that there is no transformation problem’ in Marx’s economic theory.
