The Commodity Nature of Money in Marx’s Theory

Abstract

Marx’s theory of money has become a growing subject of debate in recent years. A crucial point in the discussion deals with the physical nature of money: that is, whether or not money must be a commodity within this theory. A significant number of contemporary Marxist authors defend the point of view that Marx’s theory is compatible with non-commodity forms of money (Lipietz 1983; Foley 1986; Reuten 1988). Nonetheless it is important to note that these authors have not been able to demonstrate their position based on textual evidence from Marx’s work.