Obiektywna wartość wymienna pieniądza w subiektywnej teorii wartości

The value of money depends on the subjective value of other goods that can be obtained in exchange for it.The central element in the subjective theory of money value is the concept of objective theory of money. Both the subjective use-value of money and subjective exchange value of money are derived from its objective exchange value.Subjective valuation of money is possible on the assumption that the money has a  certain objective exchange value i.e. the possibility of obtaining certain quantity of other economic goods in exchange for a  given quantity of money. The past objective value of money is always linked with is present and future valuations. The first objective exchange value of money was the value which the goods used as money possessed at the moment when they first used as common media of exchange.

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