Publications

Working Paper No. 841 | July 2015

Marx’s Theory of Money and 21st-century Macrodynamics

Marx’s theory of money is critiqued relative to the advent of fiat and electronic currencies and the development of financial markets. Specific topics of concern include (1) today’s identity of the money commodity, (2) possible heterogeneity of the money commodity, (3) the categories of land and rent as they pertain to the financial economy, (4) valuation of derivative securities, and (5) strategies for modeling, predicting, and controlling production and exchange of the money commodity and their interface with the real economy.

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Publication Highlight

Summary Vol. 26, No. 1
Summary Winter 2017
Author(s): Michael Stephens, Elizabeth Dunn
January 2017

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