Rudolf Hilferding (1877–1941): Marxist Eclecticism

Jan Greitens ()
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Jan Greitens: Johann Wolfgang Goethe-Universität

Chapter Chapter 23 in Currency and Credit Money, 2026, pp 229-236 from Springer

Abstract: Abstract This chapter examines Hilferding’s synthesis of Marxist and Banking theories, combining commodity money, state paper money, and credit money. He distinguishes between commodity money as a medium of exchange, state-issued paper money, and credit instruments, each governed by different mechanisms. Hilferding incorporates the Quantity Theory of Money for paper currency while emphasizing endogenous credit creation for financial systems. This chapter highlights tensions in his framework, as he attempts to reconcile multiple theories of money. Hilferding’s work reflects the transition toward modern financial systems and the increasing importance of credit money.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-032-24113-9_23

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DOI: 10.1007/978-3-032-24113-9_23

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