The presumption that Marx was against gold money and in favor of managed, mampulated paper money is erroneous. According to the classical view, money needs to be numeraire, that is, it must be kept at all times 100 percent covered and freely convertible in gold, silver or any other suitable commodity. But it was Karl Marx who a decade earlier emphatically pointed out that gold and silver were the best suited metals to perform monetary functions.
The presumption that Marx was against gold money and in favor of managed, mampulated paper money is erroneous. According to the classical view, money needs to be numeraire, that is, it must be kept at all times 100 percent covered and freely convertible in gold, silver or any other suitable commodity. But it was Karl Marx who a decade earlier emphatically pointed out that gold and silver were the best suited metals to perform monetary functions.
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The presumption that Marx was against gold money and in favor of managed, mampulated paper money is erroneous. According to the classical view, money needs to be numeraire, that is, it must be kept at all times 100 percent covered and freely convertible in gold, silver or any other suitable commodity. But it was Karl Marx who a decade earlier emphatically pointed out that gold and silver were the best suited metals to perform monetary functions.
Direitos autorais:
Attribution Non-Commercial (BY-NC)
Formatos disponíveis
Baixe no formato PDF, TXT ou leia online no Scribd