| Fred Moseley | |
| Birth Date: | 22 March 1946 |
| Nationality: | American |
| Field: | History of economic thought, Macroeconomics, comparative economic systems, U.S. economic history, business cycles |
| Institution: | Mount Holyoke College |
| School Tradition: | Classical economics, Heterodox economics, Marxian economics |
| Contributions: | Transformation problem |
Fred Baker Moseley (22 March 1946) is an American marxian economist known for his work in economic theory, especially in the field of political economy from a Marxist perspective.[1]
Moseley graduated and received a B.S. from Stanford University in 1968, worked for two several years at University of Massachusetts Amherst, from which he received his Ph.D. in Economics in 1982. He has been a professor in the Department of Economics at Mount Holyoke College teaching history of economic thought, macroeconomic theory, comparative economic systems, U.S. economic history and business cycles.
Moseley has contributed to the marxian economic theory in the discussion on the labour theory of value, the falling rate of profit, the transformation problem and the critique of capitalism. Moseley argues that Marx understood "value" to be a "macro-monetary" variable (the total amount of labor added in a given year plus the depreciation of fixed capital in that year), which is then concretized at the level of individual prices of production, meaning that "individual values" of commodities do not exist.[2] [3] [4]