Contribution to the Critique of Political Economy

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1911. Excerpt: ... 3. MONEY. Money as distinguished from coin, the result of the circulation process C--M--C, forms the starting point of the circulation process M--C--M, i. e. the exchange of money for commodity in order to exchange commodity for money. In the form C--M--C, commodity forms the starting and final points of the movement; in the form M--C--M, money plays that part. In the former case money is the medium of exchange of commodities, in the latter the commodity helps money to become money. Money which appears merely as a means of circulation in the first form becomes an end in the second form; while commodity which appeared first as the end, now becomes but a means. Since money is itself the result of circulation C--M--C, the result of circulation appears at the same time as its starting point in the form M--C--M.