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Rudolf Hilferding (1877–1941): Marxist Eclecticism

Author

Listed:
  • Jan Greitens

    (Johann Wolfgang Goethe-Universität)

Abstract

This chapter examines Hilferding’s synthesis of Marxist and Banking theories, combining commodity money, state paper money, and credit money. He distinguishes between commodity money as a medium of exchange, state-issued paper money, and credit instruments, each governed by different mechanisms. Hilferding incorporates the Quantity Theory of Money for paper currency while emphasizing endogenous credit creation for financial systems. This chapter highlights tensions in his framework, as he attempts to reconcile multiple theories of money. Hilferding’s work reflects the transition toward modern financial systems and the increasing importance of credit money.

Suggested Citation

  • Jan Greitens, 2026. "Rudolf Hilferding (1877–1941): Marxist Eclecticism," Springer Studies in the History of Economic Thought,, Springer.
    • Handle: RePEc:spr:spshcp:978-3-032-24113-9_23
    DOI: 10.1007/978-3-032-24113-9_23
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