[OPE-L:2419] Re: commodity money in Marx's theory

Paul Cockshott (wpc@cs.strath.ac.uk)
Thu, 30 May 1996 01:12:17 -0700

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>I think Riccardo was referring to the "revisionist" account of the
>origins of money, that has been championed by Randall Wray, among
>others. According to this view, the standard evolutionary
>account (starting with commodity money) is a myth, and money
>really originated as debt (and as a unit of account, rather than
>as means of payment). Personally, I am inclined to reserve
>judgment until I have studied the matter more fully -- but the
>argument is not to be lightly dismissed.
>Allin Cottrell.
How does this relate to Polanyi's arguments in Trade and Markets
in Early Empires?
Paul Cockshott