Journal of East China Normal University (Philosoph ›› 2011, Vol. 43 ›› Issue (4): 102-107.
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ZHANG Chuan-Yong
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Abstract: Compared to the classical quantity theory of money putting currency in circulation as the only factor to cause inflation, Marx believes that accelerating the velocity of money is one of the reasons leading to inflation, and distinguishing the changes in value of its currency by currency devaluation or a relative depreciation is a key to formulate policy of controlling inflation. From the recent situation, the endogenous theory of money supply is more in line with China's reality. Therefore, based on the logic of the endogenous money supply and causes of inflation, China's current basic idea of controlling inflation is setting the demand of money in circulation as the target, while strictly controlling money supply to match with demand, making the central bank play a fundamental role in controlling money, and supplementing with necessary administrative means.
Key words: Marx , classical quantity theory of money , inflation
ZHANG Chuan-Yong. A Study on Marx’ Innovations of the Inflation Theory and Their Realistic Value[J]. Journal of East China Normal University (Philosoph, 2011, 43(4): 102-107.
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