1. The Theory Of Money And The Theory Of Value
... substantial difference between the value of money and the value of the money commodity. From one point of view the general equivalent theory amounts to identifying the value of money in the functional sense which I described above (the ratio of labor time to value added for the system of commodity production as a whole) with the relative price of the general equivalent commodity, which is determined by its price of production relative to the prices of production ... of other commodities. This identification is treated by Marx as uncontradictory; he devotes almost no space to a systemati...
- Word Count: 5092
- Approx Pages: 20
- Grade Level: Undergraduate