The Functions of Money

Thomas T Sekine
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Thomas T Sekine: Aichi Gakuin University

Chapter 3 in An Outline of the Dialectic of Capital, 1997, pp 50-84 from Palgrave Macmillan

Abstract: Abstract If a commodity is merely priced, its value is “expressed” but not “measured”. To price a commodity is simply to imagine that it can be sold for a certain amount of gold. That is a private, rather than a social act, even though the supply price is stated in terms of the socially chosen, instead of a privately needed, equivalent. Only when the supply price is equated to the demand price, can we say that the value of a commodity is “measured”.

Keywords: Normal Price; Capitalist Society; Quantity Theory; Credit Period; Supply Price (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37220-7_3

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DOI: 10.1057/9780230372207_3

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