مجلة البحوث القانونية و الاقتصادية
Volume 9, Numéro 1, Pages 579-603
2026-01-01
On The Dialectical Becoming Of The Medium Of Exchange
Authors : Adel Zaky Muhammad .
Abstract
This study examines the historical evolution of the medium of exchange as a dialectical process governed by an objective law of contradiction. It seeks to uncover how the product, through the negation of its immediate and concrete form, transforms into a social and abstract reality—money. The inquiry begins with the product not intended for exchange, moves through the socially dominant commodity, and culminates in money, which embodies exchange-value in its purest and most abstract form. Through this movement, the study reveals that each stage negates yet preserves the essence of the preceding one, expressing the inner dialectic of value itself. Thus, the product negates its material immediacy by becoming a commodity; the commodity negates its dual nature by becoming money; and money, in turn, carries within itself the contradiction that propels it toward ever higher forms—up to digital currency—where value finally appears as pure abstraction. The research concludes that the evolution of the medium of exchange is not a mere economic succession, but a dialectical becoming of value: a process in which the material transforms into the ideal, and necessity manifests as freedom within the social metabolism of labor.
Keywords
Dialectics ; Medium of Exchange ; Value ; Commodity ; Money
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