the Labor Theory of Value (LTV)

商品的价值取决于用于生产该商品的劳动量，这一理论的历史可以追溯到古代希腊，但最为著名的支持者之一是经济学家亚当·斯密之前的经济学家，如约翰·洛克和大卫·休谟。然而，最突出的提倡者是卡尔·马克思。

马克思在这里将劳动量定义为社会必要劳动时间（soically necessary labour time）

Quantity Theory of Money (QTM)

\[M \times V = P \times T\]

• \(M\) represents the money supply
• \(V\) represents the velocity of money (the average frequency with which a unit of money is spent in a specific period)
• \(P\) represents the price level of goods and services
• \(T\) represents the volume of transactions in the economy