1. The Theory Of Money And The Theory Of Value
... a guaranteed rate of exchange. All these cases Marx analyzes by referring to the value of gold as the ultimate regulator of the value of its substitutes - - banknotes, small coins of silver and copper, and so on. The quantity of these substitutes plays no role in determining their value as long as their convertibility into gold is assured; they must move up ... ...
- Word Count: 5092
- Approx Pages: 20
- Grade Level: Undergraduate