Marx’s Monetary Theory And Its Revelation To Contemporary China

Marx’s monetary theory is an important part of Marx s political economy, but also one of the important theoretical bases to examine the complex situation of China’s economy and to deal with the current accumulation of the economic risks. Based on the Critique of Political Economy, Das Capital and other classics of Marx, on the perspective of historical materialism and dialectical materialism, this paper will make a study of the system of Marx’s monetary theory. With Marx monetary theory as guidance, this paper expounds theory’s implication for the development of China’s current economic and the prevention of economic risks.This paper is divided into three parts: The first part analyzes the main source and formation of monetary theory. Marx’s monetary theory comes mainly from monetary thoughts of William Petty, Adam Smith and David Ricardo. By inheriting and criticizing the thoughts of Petty and others’ monetary thoughts, Marx formed gradually its own system of monetary theory. Marx’s monetary theory doesn’t reach the goal in one step, but experiences from the embryonic stage, development stage, initial formation stage and mature stage which was finally completed. The second part describes the basic content of Marx’s monetary theory, including the origin and nature of the currency, functions of the currency, the capitalization of the currency, the Law of currency circulation, the currency as interest-bearing capital and Currency into virtual capital. The third part explores the revelation of Marx’s monetary theory for the contemporary China. Based on the Marx’s monetary theory, by combining with the current outbreak of the international financial crisis, this part points out the economic risks of China’s current accumulation, especially financial risks, and points out that we should set monetary policy to adapt to the new normal, stick to coordinated development of the virtual economy and real economy, deal with debt problem the measures positively to prevent economic risks uplift and resolve the economic risk.