| This question <341|343> overall <341|343> Tyler: <101|407>. graded C weight 50% |
| Question 431: Is it right to say that M-C-M is incomplete because it ends with money, and the money is nothing by itself but must be spent? |
| [342] Tyler: M-C-M=Incomplete. I disagree with Daniel in [340]. Yes it is right to say that M-C-M is incomplete because it ends with money. Money has no value by itself. The only value of money is its purchasing power. Money alone is fiat and has no intrisic value in itself. |
| Hans: When Marx wrote Capital, money was gold, i.e., it had value and was worth saving or hoarding for its own sake. Today, money is no longer gold, but it is a stable enough store of value that it, too, is worth saving and can be the goal of the capitalist all by itself. |
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