Teoría del valor o heterodoxia monetaria: los términos de una opción

The common presentation of political economy as composed of various currents (for example, depending on the theory of value adopted) obscures a more basic distinction: that between real analysis and “monetary analysis". The former starts out from bundles of goods and hence requires a theory of value. The other, by contrast, postulates the existence of money in terms of bundles of goods. While real analysis is crippled by its dependence on the social mechanism of markets which lies outside its theoretical formulation, "monetary analysis" permits a more fruitful approach especially to such questions as crises and the differences between employees.