From: clyder@GN.APC.ORG
Date: Tue Jun 01 2004 - 04:09:29 EDT
During the 19th century in England where Marx was writing all monetary transactions were performed in the state money of account, not in units of any commodity. What I was asking is whether there has every been a capitalist economy that used commodities as money. I dont believe that there has. I think it is even doubtful that there has ever been a devloped commodity production system using standardised quantities of a commodity as a universal equivalent. It might just have existed in the 9th century BC in the late mediteranean or among the Yoruba in the early 19th century but I am not convinced. Quoting glevy@PRATT.EDU: > Hi Paul C. > > > Can you cite a historical instance of a money commodity > > in a capitalist society? > > At the risk of stating the obvious: > > Gold (or silver) formerly served as a money commodity in > many capitalist social formations -- especially in Marx's > time. But, I agree that even when there was a money > commodity the state played an essential role in the monetary > system. > > In solidarity, Jerry > > ---------------------------------------------------------------- This message was sent using IMP, the Internet Messaging Program.
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