Marx's Theory of Money and 21st-century Macrodynamics

Tai Young-Taft

Economics Working Paper Archive from Levy Economics Institute

Abstract: Marx's theory of money is critiqued relative to the advent of fiat and electronic currencies and the development of financial markets. Specific topics of concern include (1) today's identity of the money commodity, (2) possible heterogeneity of the money commodity, (3) the categories of land and rent as they pertain to the financial economy, (4) valuation of derivative securities, and (5) strategies for modeling, predicting, and controlling production and exchange of the money commodity and their interface with the real economy.

Keywords: Macroeconomics; Marx's Theory of Money; Monetary Theory; Transformation Problem (search for similar items in EconPapers)
JEL-codes: B51 E11 G13 (search for similar items in EconPapers)
Date: 2015-07
New Economics Papers: this item is included in nep-his, nep-hpe, nep-mac, nep-mon and nep-pke
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