Money is merely one slightly special and easy-to-measure token in an economy, but it isn't really what economics is about. "It is self-contradictory to discuss

Money is merely one slightly special and easy-to-measure token in an economy, but it isn't really what economics is about. "It is self-contradictory to discuss a process which admittedly could not take place without money, and at the same time to assume that money is absent or has no effect." - F.A. Hayek, The Pure Theory of Capital, 1941: p. 31 Certainly, this is not to say economics is about money. However, to assume any form of monetary neutrality in the short or long run is a folly, for any economy governed by monetary exchange has a critical relationship with monetary and financial institutions. Monopolies on issuance of currency complicate recovery, as well. If anything, many economists neglect money. Indeed, it was naive IS-LM models with interest-insensitive money demand functions was what ignited the so-called "monetarist counterrevolution".