https://www.superphysics.org/research/marx/capital/chapter-3/ Recent content in Money on Superphysics Hugo en https://www.superphysics.org/research/marx/capital/chapter-3/section-1/ Mon, 01 Jan 0001 00:00:00 +0000 https://www.superphysics.org/research/marx/capital/chapter-3/section-1/ <p>The first chief function of money is to express the comparative value of commodities as the universal measure of value.</p> <!-- And only by virtue of this function does gold, the equivalent commodity par excellence, become money. --> <p>Money becomes the measure of commodities because all commodities are products of human labour. <!-- , and therefore commensurable, that their values can be measured by one and the same special commodity, and the latter be converted into the common measure of their values, i.e., into money. --> Money therefore is the measure of labour time.<!-- as a measure of value, is the phenomenal form that must of necessity be assumed by that measure of value which is immanent in commodities, labour-time. [1] --></p> https://www.superphysics.org/research/marx/capital/chapter-3/section-2/ Mon, 01 Jan 0001 00:00:00 +0000 https://www.superphysics.org/research/marx/capital/chapter-3/section-2/ <h2 id="a-the-metamorphosis-of-commodities">A. The Metamorphosis of Commodities</h2> <p>Chapter 2 showed that the exchange of commodities implies contradictory and mutually exclusive conditions.</p> <p>The difference between commodities and money does not sweep away these inconsistencies. Instead it develops a <em>modus vivendi</em>, a form in which they can exist side by side.</p> https://www.superphysics.org/research/marx/capital/chapter-3/section-2c/ Mon, 01 Jan 0001 00:00:00 +0000 https://www.superphysics.org/research/marx/capital/chapter-3/section-2c/ <p>Money takes the shape of coin because it is the circulating medium.</p> <p>The weight of gold represented in imagination by the prices or money-names of commodities, must confront those commodities, within the circulation, in the shape of coins or pieces of gold of a given denomination.</p> https://www.superphysics.org/research/marx/capital/chapter-3/section-3/ Mon, 01 Jan 0001 00:00:00 +0000 https://www.superphysics.org/research/marx/capital/chapter-3/section-3/ <p>Money is the measure of value and the medium of circulation. Gold (or silver) is therefore money.</p> <!-- It functions as money, on the one hand, when it has to be present in its own golden person. It is then the money-commodity, neither merely ideal, as in its function of a measure of value, nor capable of being represented, as in its function of circulating medium. On the other hand, it also functions as money, when by virtue of its function, whether that function be performed in person or by representative, it congeals into the sole form of value, the only adequate form of existence of exchange-value, in opposition to use-value, represented by all other commodities. --> <h2 id="a-hoarding">A. Hoarding</h2> <p>Buying and selling leads to the continuous circulation of money.</p> https://www.superphysics.org/research/marx/capital/chapter-3/section-2b/ Mon, 01 Jan 0001 00:00:00 +0000 https://www.superphysics.org/research/marx/capital/chapter-3/section-2b/ <p>The change of C—M—C causes the circulation of the material products of labour. It needs a given value in the shape of a commodity to begin and end the process.</p>