1. The Theory Of Money And The Theory Of Value
... he makes remarks like the second one he goes further and identifies this value of money with the labor time embodied in a certain quantity of gold. One result of Marx's adoption of the general equivalent theory, then, is that the value of money plays no central role in his analysis ... link in the expression of the relations of capitalist production in terms of money, but it itself is viewed as unproblematically determined by production conditions in the gold mining industry. Thus the value of money never becomes the center of Marx's critical attention. Two Revisions of Marx's Theory of ...
- Word Count: 5092
- Approx Pages: 20
- Grade Level: Undergraduate