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1. • • The commodity theory of money was defended by many classical economists and can still be found in most economics textbooks (Mankiw 2009, Parkin 2011).
     plato.stanford.edu/entries/money-finance/

     Philosophy of Money and Finance - Stanford Encyclopedia of ...

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   Does the commodity theory of money still exist?

   • The commodity theory of money was defended by many classical economists and can still be found in most economics textbooks (Mankiw 2009, Parkin 2011). This latter fact is curious since it has provoked serious and sustained critique.

   Philosophy of Money and Finance - Stanford Encyclopedia of Philosophy

   plato.stanford.edu/entries/money-finance/

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   What is commodity theory in economics?

   • Commodity theory expressed itself as metallism, where sound money is based on the scarcity of precious metals ‘with intrinsic value’, such as gold. This is also the classical view of money in economics, as merely a ‘medium of exchange’.

   The Philosophy of Bitcoin and the Question of Money

   journals.sagepub.com/doi/full/10.1177/02632764211049826

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   Is money a commodity?

   • Menger’s thesis is about the spontaneous origin of money, not about the fact that at its origin, money was likely one commodity or another. Once that is accepted, the “challenge” to the supposed commodity theory of Menger posed by the commonality of people accepting instruments without intrinsic value as media of exchange (p. 11) can be put aside.

   The Reality of Money: The Metaphysics of Financial Value: The

   www.independent.org/publications/tir/article.asp?id=1590

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   Is Menger's theory a “commodity” theory of money?

   • In the one page dedicated to Carl Menger’s theory, the author argues that it is a “commodity” theory of money. That, of course, is a misunderstanding; Menger’s theory is a “catallactic” theory. Menger’s thesis is about the spontaneous origin of money, not about the fact that at its origin, money was likely one commodity or another.

   The Reality of Money: The Metaphysics of Financial Value: The

   www.independent.org/publications/tir/article.asp?id=1590

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   How did money become a commodity?

   • For commodity theorists, money emerged from barter, as an object to exchange with and value other commodities. Cows, salt and even shells were used as money (Menger, 1892: 239). However, precious metals soon became the commodity of choice, as they were durable and enabled division and reconstitution.

   The Philosophy of Bitcoin and the Question of Money

   journals.sagepub.com/doi/full/10.1177/02632764211049826

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   Why is the commodity theory of money re-evaluated?

   • It also heralded a re-evaluation of the commodity theory of money coupled with the emergence of a proliferation of financial instruments and practices premised on new fictions of value and market efficiency and tailored towards the interests of speculators in newly fabricated assets (see Bordo and Eichengreen, 2007 ).

   Money is no object: Money, cryptocurrency, fiction - Paul Haynes, 2022 …

   journals.sagepub.com/doi/full/10.1177/14705931221137733

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3. journals.sagepub.com › doi › fullThe Philosophy of Bitcoin and the Question of Money

   journals.sagepub.com › doi › full

   Nov 5, 2021 · The issue of money then is not about a clash of commodity theorists and claim theorists; as Ingham puts it, ‘the legacy of commodity theory and metallism’s misunderstandings of money should now be laid to rest’ (2020: 40).

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4. plato.stanford.edu › entries › money-financePhilosophy of Money and Finance - Stanford Encyclopedia of ...

   plato.stanford.edu › entries › money-finance

   Nov 2, 2018 · The commodity theory of money was defended by many classical economists and can still be found in most economics textbooks (Mankiw 2009, Parkin 2011). This latter fact is curious since it has provoked serious and sustained critique.

   • Author: Boudewijn de Bruin, Lisa Maria Herzog, Martin O'Neill, Joakim Sandberg

   • Publish Year: 2018

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     L. Randall Wray - Modern Money Theory for Beginners

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6. www.independent.org › publications › tirThe Reality of Money - The Independent Institute

   www.independent.org › publications › tir

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   In the one page dedicated to Carl Menger’s theory, the author argues that it is a “commodity” theory of money. That, of course, is a misunderstanding; Menger’s theory is a “catallactic” theory.

7. link.springer.com › chapter › 10Existing Literature: A Brief Tour | SpringerLink

   link.springer.com › chapter › 10

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   In the literature of money, whether they resort to a historical analysis or not, two concepts are prominently featured—(1) Commodity Theory of Money, and (2) Credit Theory of Money. The two ideas generally cover the whole literature on this subject matter including the historical ones.

   • Author: Mehdi Chowdhury

   • Email: mchowdhury@bournemouth.ac.uk

8. academic.oup.com › book › 557742 Cryptocurrency: Commodity or Credit? - Oxford Academic

   academic.oup.com › book › 55774

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   Having articulated the commodity theory’s central claims about money’s origin, ontology, and function, we are now ready to consider whether and to what extent the theory can accommodate cryptocurrency. Let us begin with the claim about money’s function, as it is the most conducive to cryptocurrency.

9. journals.sagepub.com › doi › fullMoney is no object: Money, cryptocurrency, fiction - Paul ...

   journals.sagepub.com › doi › full

   Nov 2, 2022 · Unlike the list of transcendental features and characteristics outlined earlier, the operation of money helps to map the assemblages through which it circulates. For example, the commodity theory of money identifies the value of money with a commodity having an intrinsic value.

10. coinsweekly.com › a-numismatists-guide-to-moneyA Numismatist’s Guide to Money Part 2: Theories of Money

    coinsweekly.com › a-numismatists-guide-to-money

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    Nov 26, 2020 · The commodity theory of money is well-known today as it is used, often implicitly, in conventional, neo-classical economic theory. Money’s medium of exchange function is strongly emphasized, and the measure of relative value function is deployed (typically as “price” without consideration of its wider implications) in the classroom to ...