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• W2486701185 abstract "A contentious feature of Marx’s Capital is his treatment of money, especially in relation to the logic of circulation. On the one hand, Marx conceives of money as a ‘body of value’, an immediate embodiment of (abstract) universal labour. If time is the measure of labour, then the ‘real’ (non-monetary) measure of value is the time socially necessary to produce the money commodity: gold. Yet, there is also in Capital the outline of an elementary ‘form theory’, wherein monetary abstraction does not arise substantially in production but in the practical relation of commodity exchange, itself a means of associating previously dissociated commodities and labour.2 Now, money is a necessary condition for the existence of the (capitalist) value-form of exchange; it constitutes the value dimension wherein heterogeneous use-values (commodities) are validated as social values and the heterogeneous labours that produced them are validated as social labour." @default.
• W2486701185 created "2016-08-23" @default.
• W2486701185 creator A5086643175 @default.
• W2486701185 date "2004-01-01" @default.
• W2486701185 modified "2023-10-18" @default.
• W2486701185 title "Reconstructing Marx on Money and the Measurement of Value" @default.
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• W2486701185 doi "https://doi.org/10.1057/9781403938640_4" @default.
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