LAW OF CASH AND EQUATION EXCHANGE IN THE LIGHTOF MODERN DEVELOPMENT FINANCIAL SPHERE

The subject of the study is a comparison of the law of money circulation formulated in
the work of K. Marx «Das Kapital» (1867) and the equation of exchange, as well as «the revised equation of exchange» by Irving Fisher, which he expounded in the work «The Purchasing Power of Money, its Determination and Relation to Credit, Interest and Crises» (1911).
A comparison of essentially opposite directions of economic thought in the field of the theory
of money (marxism and neoclassicism) was carried out with the aim of verifying simple macroeconomic models that describe the process of commodity-money circulation from the position
of the founders of these areas, and evaluating always given, although not always clearly formalized, conditions or restrictions within which this or that model is true. The analysis is relevant
in the light of the development of the modern financial sector, in particular, with the aim of
building a macroeconomic model of «digital money».