Money as World Money

Adalbert G. Lallier
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Adalbert G. Lallier: Concordia University

Chapter 3 in The Economics of Marx’s Grundrisse, 1989, pp 45-68 from Palgrave Macmillan

Abstract: Abstract Throughout his treatment of money and its role, Marx intersperses comments on gold and silver and their use as a money commodity, as medium of exchange, as object of accumulation, and as the ultimate means of international payment. Precious metals perform the money function particularly well because they are durable, divisible, easily transportable; also because they represent great exchange value for their size. In addition, and unlike copper (an early form of metal money), precious metals are inoxidisable and scarce.1

Keywords: Precious Metal; Crop Failure; Fifteenth Century; Labour Time; Equivalent Exchange (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-20171-6_4

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DOI: 10.1007/978-1-349-20171-6_4

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