Marx’s Objections to Credit Theories of Money

Anitra Nelson

Chapter 4 in Marx’s Theory of Money, 2005, pp 65-77 from Palgrave Macmillan

Abstract: Abstract Recent reconstructions have inclined towards or substituted Marxian credit theories of money for his theory of the money commodity,2 therefore it is significant that Marx criticized the weak credit theories of money with which he was familiar. First, distinctions between commodity and credit theories of money are identified. Second, aspects of Marx’s theory of money are highlighted. Third, Marx’s objections to concepts associated with credit theories of money are presented. Finally, it is indicated how current Marxian credit theories of money avoid such objections and instead enhance Marx’s approach.

Keywords: National Bank; Monetary Theory; Bank Note; Credit Money; Abstract Labour (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52399-9_5

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DOI: 10.1057/9780230523999_5

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