Money and Capital: A Critique of Monetary Thought, the Dollar and Post-Capitalism

This book renews the Marxian theory of the general equivalent by highlighting the contradiction between the social functions of money (unit of account, means of circulation) and its private functions (store of value, accumulation).

It draws a clear distinction between the monetary base and the commodity base of money and thus avoids the confusion between money and credit on the one hand, and money and capital on the other, which are found in other heterodox monetary theories. It accounts for...