| Monetary theory is an important part of the Marx’s philosophical economics system.However,under the shock of the western economics theory,which is the mainstream trend in the curent socitey,this extraodinary theory is often neglected by people.Therefore,it is necessary to take a comprehensive arrangement on Max’s monetary theory.In such way,the practical implication of this heritage could be noticed.When sorting out Marx’s monetary theory,we should realize that Marx’s monetary philosophy could be divided into two periods.In the earlier days,Marx started from the philosophy of humanism and criticized the nature of money using the way of metaphysics.After which,with the continuous development of Marx’s philosophy,Marx began to utilize the method of historical materialism to illustrate his theory.Since then,this theory would be stretched out into different aspects,such as the root causes of the existence of currency,the essence of currency,the evolution of the currency in terms of its material carrier as well as its functions.This progress is no longer limited in the traditional political economics.In the process of research,currencies are always evaluated in the big pictures of national economic development,commodity production and commodity exchange.Meanwhile,Marx points out that the currency could be classfied into two types,one currency itself,one capital.He mentioned that capital is the advanced form of currency.Without the evaluation from currency to capital,there is the less likely to see the vigorous development of the capitalist society.Only in the case that money became capital,traditional feudalism would collapse.With the development of social economy and the abolishment of the Gold Standard System,currency stared to perform its function in the virtual ways,which lead to an extensive reform of the money circulation in the market and the market operation system.However,there is no change in the essence of the currency.It should be realized that underlying the surface the money,what is more essentical is the relationships between human beings and countries.Marx’s thoughts such as monetary essence theory,motivation theory and currency ethics thought and so on,can play an inspirng role for us to grasp the essence of the economical cases and effectively engage in the socialist market economy.This paper is going to look insight into the study of Marx’s monetary theory firstly,following the logic of Marx’s monetary thought.An analysis on the developmental phases of Marx would be included secondly according to the relation to the national economy development of Marx and commodity production as well as commodity exchange.The exploration on the essence,the value,the circulation and cybernatics of Marx’s theory would be followed afterwards.After these analyses we can have a deep understanding about the origin of currency in the monetary theory,the essence of monetary theory,the main functions of monetary theory and value theory under the international background.Besides,we can find out the nature of virtual capital in terms of its development and performing forms.Combined with current China’s special developmental stages,in the context of the new noraml socialist marketing economy and the more dynamic capital market,these analyse mentioned before have their practical meanings.This paper introduces a comprehensive textual analysis of the development of Marx’s monetary thought,and depicts the whole picture of Marx’s monetary thought.The first chapter comprehensively introduces the ideological origin of Marxist monetary philosophy such as mercantilism and classicism.The second chapter studies the new development of monetary thought in order to better understand the practical significance of Marx’s monetary thought.The third chapter to the sixth chapter are the key points of this paper.They elaborate Marx’s monetary thought from four aspects: essence,value,operation and control.The seventh chapter expounds the profound significance of developing Marx’s monetary thought in theory and reality and plays an important role in improving China’s monetary policy.The introduction part first introduces the development courses of the monetary theory.Starting from Marx’s earlier works ‘On the Jewish questions’ to ‘Das Capital’,which is regarded as a more mature work.This part mentions a brief introduction on the Marx’s monetary theory.Secondly,the literature review is followed afterewards,where mainly includes the current development situation in the Chinese and foreign academical community.According to these analyses of literature review,compared with the prevelance in foreign countries,the develoment situation of Marx’s ideas in our China is relative unsatisfied.Hence,this paper on these fileds has its meaningful implications.The third section in this part is the systmatic description on the core idea of Marx’s findings,including the origin theory,the essence theory,the funtion theory and the principle of currency circulation.The first chapter introduces the ideological origin of Marx’s monetary philosophy,which is based on the critical absorption of various ideas from different schools and their representative figures since the age of mercantilism.In particular,one of the representative mercantile figures,William Petty,plays a significant role in the formation of Marx’s thoughts,such as money velocity,the preliminary idea of division of labor,the origin of land rent,the original labor theory of value,the importance of the capital.Representative figure of Classicist,David Hume also has contribution to Marx monetary thought system currency theory.The ideas about currency circulation ideas and international trade theory are apparent evidences.Adam Smith is the third person who has a profound influence on Marx.Particularly,Marx’s analysis on the relationship between currency and capital is actually based on Adam’s research about functions of currency and national debt.Finally,the classical economist David Ricardo also provides his ideas of the value of paper money to support Marx’s monetary system.The second chapter describes the new development of monetary theory.The monetary quantity theory of Philip A.Fisher and Arthur C.Pigou represents the mature period in the history of classical monetary theory.Knut Wicksell proposes the theory of cumulative process,which holds the idea that interest rates effects have cumulative trend.In addition,he points out that the monetary process has a substantial influence on economic growth.He also combines monetary theory and economic theory together,breaking the traditional ‘dichotomy’.John Maynard Keynes deeply recognizes the importance of currency for economy,and further analyzes the currency supply and demand,as well as the connection between interest rate changes and the expansion of employment and national income,and thus reveals the monetary impact on the real economy.This makes monetary theory no longer limited in the analyses on the currency and price fluctuations,which are main contents pf the classical monetary theory.Hence,Keynes creates a new currency economic theory,where central points are output productions and employment.This paper also has a deep exploration on the influence of Keynes’ liquidity preference theory on the changes of money supply and demand in China.After Keynes,the role of currency in economic operation increasingly attracts the attention of all kinds of economists.Afterwards,a series of monetary theories are formed accordingly.The theory of monetarism by Milton Friedman,endogenous money supply theory and real business cycle theory are famous examples.The third chapter discusses Marx’s theory on the nature of money.It is mainly based on the humanistic perspective,and then illustrates the social essence of money itself,the monetary role in social economic activities.Additionally,this section points out that the currency features four typical characteristics: universality,powerness,transformation,reversal.At the same time,the private property of currency also is analyzed.Therefore,this paper further explains the process from private belongings to currency.In such way,people can find that the medium of exchange is not the nature of the currency.It is labor and the socialized form of labor from ecah side of commodity exchange instead.This part then Further exlpore the relationship between estranged labour and currency alienation,which points out that labor is the basis of monetary alienation.Goods stand out from labor activities,and furture turn into currency until become capital.Meanwhile,a deep analysis about the effects of currency alienation on human beings is followed.The fourth chapter studies Marx’s theory of monetary value.Marx realizes the analysis of the currency is dependent on the further understanding of products.Therefore,a clear explanation about the commodity under the background of capitalist socialized mass production is followed,where implies that commodity itself includes an inherent contradition between the value and the value of useness.This contradiction is derived from the duality of labor: the specific labor and the abstract labor.This explains the fundamental reasons of why currency forms in the process of Commodity Exchange.It also demonstrates the origin of the currency.What is more,the historical evolution process of the value and its realization forms are mentioned clearly.These courses are from individual or accidental cases to expanded and the advanced forms,and finally become the general form of value as well as the monetary value.Meanwhile,this part also summarizes the five functions of money.They are the value measurement,circulation method,storage currency,payment method,and the world currency individually.These findings have fundamental contributions to the understanding of the circulation principles and the inevitable trend towards capitalization.Besides,they are also meaningful for the criticism of commodity fetishism and monetary fetishism.The fifth chapter elaborates Marx’s theory of monetary operation.On the basis of his ideas about the value of labor,he supports the thoughs that money is actually a general equivalent commodity,what remains always fixed in the process of commodity exchange.Currency itself is built to provide convenience for the circulation of commodities.Along with this essence,there are some social relationships can be reflected from currency.In fact,the law of money circulation relies on the amount of the money needed in the real market.Therefore,the money demand is closely related to the real productions in the circulation.The velocity of money turnover,namely,the total number of times of the money circulation,also influences the demand of money in the market significantly.Through the research on the laws of the currency circulation,Marx finds out the fundamental reasons of why there is an unavoidable conversion from money to capital.Besides,he looks insight into the performing forms of capital and virtual capital.In addition,this chapter,starting from Marx’s labor theory of value,analyzes the development courses,forms,functions and applications of digital currency,which has great influence on social and economic system.The sixth chapter discusses Marx’s thought of monetary control.On the basis of a deep understanding of the features of money,Marx reveals that money fetishism is more hidden,but more essential than commodity fetishism.Additonlly,Marx points out that the reason that metal currencies,such as gold,can become the currency,is not just only due to their natural attributes,but more the irreconcilable contradictions within the development,which happens in the inner commodities.The another reason is that this is the consequence the gold has reversed the traditional social principle.Furthermore,Marx explores the essence of money fetishism and expresses his criticism.Besides,with the development of capitalist production mode,the global market was gradually forming because of foreign trading.Since then,money traveled across the broader and more and more money was used in the international trading activities.This is where the international value of money comes from.However,the essential difference is depended on the the powerness of the involved nations.What is more,the application of international value of money and the utility of money to countries also are important part of this chapter.The seventh chapter mainly analyzes the significance of studying Marx’s monetary theory.Marx is the first person who reveals the problems of money alienation from the aspects of human nature.Thus,a deep understanding of this theory is beneficial to fundamentally eliminate the monetary fetishism and to encourage the citizens to pursuit the all-round development.Additionally,this thought can guide us to know the root causes of the global monetary and financial crisis.Thus,it is the time to take various measures to establish a modern monetary and financial management system as well as the financial macro-control framework.In brief,in order to obtain the stability of financial system and the development of economic system,more flexible usage of monetary policy objectives and monetary policies can be applied in the real world.The last part is the conclusion.Starting from the perspective of historical materialism thought,this part reveals that the history of currency is the development of universal equivalent form,which essentially represents a typical social relations.Therefore,a practical monetary policy centered of the capitalist economic relationship has formed on the basis of the labor theory of value.This logic makes Marx’monetary theory more systematic.On the basis of the overall research,this paper comprehensively analyzes and interprets Marx’s monetary philosophy system,systematically presents the whole picture of its monetary thought,and forms a relatively complete research model of Marx’s special thought.From the perspective of Marxist historical materialism,it comprehensively defines the essential characteristics of Marxist monetary thought,and concretely lays out the theoretical dimension of materialist historical view in Marx’s monetary thought,systematically,accurately and accurately grasps the internal context of Marx’s monetary thought.To clarify the inheritance and development of the national credit currency thought to Marx’s monetary thought,and at the same time closely link with the development of digital currency in the new era,revealing the social vision and political goals that Marx wants to advocate and achieve,and fully demonstrate the Marxist philosophical thinking for people.The fundamental role of freedom,equality and liberation. |
