Money is time

This is the first installment of a series on Das Kapital. It covers the first two Abschnitte of the first book. Maybe the essence and continuing relevance of Marx’ issues with capitalism can be traced back to inverting “time is money”, from a world where monetary considerations determine how one should allocate one’s time, into “money is time”, i.e. to a world where the way we (would like to) spend our time determines what money is and how the economy goes about. Marx is interested in the equations of motion of economic organisation, in particular the capitalist society. He famously considers these laws to be temporary phenomena, and as such is not only interested in how things move under these laws, but how they evolve themselves too. He argues that each era exhibits a law that is reflective of the evolving stage of society as a whole. → Read More