Money in the Circulation of Capital

Martha Campbell

Chapter 6 in The Circulation of Capital, 1998, pp 129-157 from Palgrave Macmillan

Abstract: Abstract In Volume One of Capital, Marx explains money as the necessary counterpart to the mass of commodities one observes in capitalist societies. Money is necessary, he argues, because all commodities must have one and the same equivalent in exchange. Here Marx takes the presence of commodities for granted. As he will argue later in Volume One, generalized commodity production (or generalized production for sale) occurs only in capitalism. By then, however, he has left the topic of money. It is not until Volume Two, therefore, that Marx considers money in the context of the relation between wage labor and capital. The theory of money in Volume Two is about the new features that emerge from this standpoint: the features of money as a form of capital.

Keywords: Money Supply; Trade Credit; Fixed Capital; Capitalist Production; Wage Labor (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-1-349-14319-1_6

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