Moderne Geldtheorie (MMT)

  • 1. In meinen Augen löst die Modern Monetary Theory das Geld vollständig vom Wert und glaubt, der Staat könne den Wert des Geldes willkürlich festlegen.

    Für Marx ist Geld eine bestimmte Form des Wertes. Geld hat Wert, weil Geld Warenwert repräsentiert, und Geld hat soviel Wert, wie viel Warenwert es tauschen oder kaufen kann.

    Karl Marx: "Aber was ist Geld? Geld ist keine Sache, sondern eine bestimmte Form des Werts..." K. Marx, Kapital III, MEW 25, 870.

    Karl Marx: „Der Austauschprozess produziert eine Verdopplung der Ware in Ware und Geld, ... In diesem Gegensatz treten die Waren als Gebrauchswerte dem Geld als Tauschwert gegenüber. Andererseits sind beide Seiten des Gegensatzes Waren, also Einheiten von Gebrauchswert und Wert.“ K. Marx, Kapital I, MEW 23, 119.


    2. In meinen Augen löst die Modern Monetary Theory das moderne Papiergeld vollständig vom goldgedeckten Geld.

    Für Marx gelten für das Papiergeld keine anderen Gesetze als für das Metallgeld.

    Karl Marx: „Ein spezifisches Gesetz der Papierzirkulation kann nur aus ihrem Repräsentationsverhältnis zum Gold entspringen. Und dies Gesetz ist einfach dies, dass die Ausgabe des Papiergelds auf die Quantität zu beschränken ist, worin das von ihm symbolisch dargestellte Gold (bzw. Silber) wirklich zirkulieren müsste.“ K. Marx, Kapital I, MEW 23, 141.


    In Englisch:

    1. In my view, Modern Monetary Theory completely separates money from value and believes that the state can arbitrarily set the value of money. MMT cannot and will not explain where money gets its value.

    For Marx, money is a form of value.

    Karl Marx: "But what is money? Money is not a thing but a certain form of value, ... "K. Marx, Capital III, MEW 25, 870.

    Karl Marx: "The exchange process produces a doubling of the goods in goods and money, ... In this contrast, the goods as utility values of the money as an exchange value. On the other hand, both sides of the opposition are commodities, that is, units of utility value and value. "K. Marx, Kapital I, MEW 23, 119.


    2. The Modern Monetary Theory completely separates modern paper money from the gold-covered money.

    For Marx, there are no other laws for paper money than for metal money.

    Karl Marx: "A specific law of paper circulation can only spring from its representation relation to the gold. And this law is simply that the output of paper money should be limited to the quantity in which the symbolically represented gold (or silver) would really have to circulate. "K. Marx, Kapital I, MEW 23, 141.


    (Sorry for poor translation in English)


    Antwort in Michael Roberts Blog


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Comments 1

  • In the meantime, I searched for the quotes from Marx in the official English translation. They are as follows:
    “The process (of exchange) then differentiates them into commodities and money, and thus produces an external opposition corresponding to the internal opposition inherent in them, as being at once use-values and values. Commodities as use-values now stand opposed to money as exchange-value. On the other hand, both opposing sides are commodities, unities of use-value and value.” K. Marx, Capital I, 72.
    Here, as in the first volume of Capital, Marx assumes metal money, not for reasons of principle – as if the exchange of goods and money were necessarily tied to gold. Marx assumes metal money, just for the sake of simplification:
    “Throughout this work, I assume, for the sake of simplicity, gold as the money-commodity.” K. Marx, Capital I., 67.

    “In the simple form of the circulation of commodities hitherto considered, we found a given value always presented to us in a double shape, as a commodity at one pole, as money at the opposite pole.“ K. Marx, Capital I, 88.
    “Again, money functions as a means of circulation only because in it the values of commodities have independent reality.” K. Marx, Capital I. 78
    “Value, therefore, being the active factor in such a process, and assuming at one time the form of money, at another that of commodities, but through all these changes preserving itself…” K. Marx, Capital I, 107.
    Finally:
    “Paper money is a token representing gold or money. The relation between it and the values of commodities is this, that the latter are ideally expressed in the same quantities of gold that are symbolically represented by the paper. Only in so far as paper money represents gold, which like all other commodities has value, is it a symbol of value.” K. Marx, Capital I. 84