Marx’s Contribution to the Search for a Theory of Money
The theory of money that Marx developed as part of his theory of capitalism has long been neglected or subject to criticism. However, there are several reasons to revisit this theory at present: because it may require updating; to see whether it is a historically useful way of analysing nineteenth-century capitalism; to determine whether it remains relevant for analysis of twentieth and twenty-first century capitalism; and/or to compare it with some other, possibly less satisfactory, modern theories of money. These varying reasons are related to one another but are not the same.
KeywordsExchange Rate Purchase Power Parity National Currency Money Wage Money Holding
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