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Karl Marx's "Capital" Vol. 1 (Part 1/4)

Theory & Philosophy

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The Quantity of Money Functioning as the Circulating Medium

The quantity of money functioning as the circulating medium is equal to the sum of the prices of the commodities divided by the number of times coins of the same denomination turn over or are used. And this will also determine what he calls the velocity of commodities. So if, for example, we have two dollars, two dollars, and im wong to use it to buy an apple, and then i sell the apple for two dollars. I haven't made any money. What i can then say is that four dollars has been spread around, but it was the same two dollars, just twice in a row. We see a kind of antagonism between the use value of a thing and the exchange value

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