The Commodity Nature of Money in Marx’s Theory

Claus Germer

Chapter 1 in Marx’s Theory of Money, 2005, pp 21-35 from Palgrave Macmillan

Abstract: Abstract Marx’s theory of money has become a growing subject of debate in recent years. A crucial point in the discussion deals with the physical nature of money: that is, whether or not money must be a commodity within this theory. A significant number of contemporary Marxist authors defend the point of view that Marx’s theory is compatible with non-commodity forms of money (Lipietz 1983; Foley 1986; Reuten 1988). Nonetheless it is important to note that these authors have not been able to demonstrate their position based on textual evidence from Marx’s work.

Keywords: Market Economy; Direct Exchange; Labour Time; Textual Evidence; General Equivalent (search for similar items in EconPapers)
Date: 2005
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DOI: 10.1057/9780230523999_2

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