1. The Theory Of Money And The Theory Of Value
... the "value of money" as the labor time equivalent of the monetary unit, and the "value of the money commodity." The latter is the amount of social labor time contained in a unit of the money commodity, say, an ounce of gold. Marx argues as if the value of the money commodity actually determines the value of money, once a society has settled on a "standard of price," the amount of the money commodity which it will call ... explicitly answer this question. A second group of questions which troubled early- nineteenth- century monetary theorists concerns the laws which govern the depreciati...
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