that central to the new capitalist system was the replacement of a system of money serving as the key to commodity exchange (C-M-C, commerce by a system of money leading (via commodities) to the re-investment of money in further production (M-C-M, capitalism). The primary focus for Marx was capitalism itself, and he was less interested in explaining its rise than in offering an account of how it worked and where it was headed. 47, 63n money 17, 26-30, 36-40, 52-6 money as capital 38-43, 52-6, 57n, 58n money, quantity theory 44-50 monopoly (accidental, artificial, natural) 116-7, 129n monopoly of landownership 132-3, 136, 138-9 Moseley,. Consequently, Banaji threatens to diminish his own most interesting essays from the 1970s, whether by exclusion or by shoehorning them into the largely alien preoccupations of more recent work. Alexander, Dominic 2012 Review of Theory as History Counterfire Brass, Tom 2012 Jairus Banaji's Mode of Production: Eviscerating Marxism, Essentialising Capitalism Journal of Contemporary Asia vol. The logic begins with the argument that ultimately there are only three ways of exploiting labour, through slavery, the seizure of rent or taxes from peasants, or the extraction of surplus value from wage labour.
115 M Hardt., The Jameson Reader (Oxford 2000). Banaji seems to agree with the postcolonialists that there is something identifiably and problematically eurocentric in Marxs view of the way we should visualize the general evolution of Europe from Antiquity to the modern world (351). If such distinctions are not made carefully, the analysis would seem to slip back into a view that the emergence of trade and industry, necessarily therefore of capital in a simple sense, is synonymous with capitalism as a social system. It seems likely that Banaji overestimates the importance of landless labourers in late Roman Egypt. Geschiere,., Old Modes of Production and Capitalist Encroachment.
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