Chapter 7: How money emerges out of the simple exchanges of commodities
In Chapter I, Volume I of Capital, Marx presents the following equation of exchange: 20 yards of linen = one coat
For example, say I have produced 20 yards of linen. Under the prevailing conditions of exchange, I can barter the 20 yards of linen for exactly one coat of a given type. The equal sign assumes that, in some sense, 20 yards of linen are the same as one coat. But exactly what is being equated here?
A Critique of Crisis Theory 