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Marx’s Objections to Credit Theories of Money

In: Marx’s Theory of Money

Author

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  • Anitra Nelson

Abstract

Recent reconstructions have inclined towards or substituted Marxian credit theories of money for his theory of the money commodity,2 therefore it is significant that Marx criticized the weak credit theories of money with which he was familiar. First, distinctions between commodity and credit theories of money are identified. Second, aspects of Marx’s theory of money are highlighted. Third, Marx’s objections to concepts associated with credit theories of money are presented. Finally, it is indicated how current Marxian credit theories of money avoid such objections and instead enhance Marx’s approach.

Suggested Citation

  • Anitra Nelson, 2005. "Marx’s Objections to Credit Theories of Money," Palgrave Macmillan Books, in: Fred Moseley (ed.), Marx’s Theory of Money, chapter 4, pages 65-77, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52399-9_5
    DOI: 10.1057/9780230523999_5
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