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> Economists, it seems, think about money less than most people do: as Mervyn King, the former governor of the Bank of England, observed in 2001: ‘Most economis
by reallymental 9y ago
> Economists, it seems, think about money less than most people do: as Mervyn King, the former governor of the Bank of England, observed in 2001: ‘Most economists hold conversations in which the word “money” hardly appears at all.’
Eh yeah, that's because there are other words for money.
An Economist thinks about resources, their (perceived) value, and less about cash. It's because cash somehow ends up representing those points.
That doesn't mean an Economist 'thinks/talks less about money'.
- snidane 9y agoWonderful set of video lectures on Money and Banking by Perry Mehrling, where he emphasizes exactly this topic of economists abstracting away from money and liquidity, therefore leaving abstraction leaks in their theories. http://www.perrymehrling.com/1-the-four-prices-of-money/ http://www.perrymehrling.com/1-the-four-prices-of-money/ http://www.perrymehrling.com/2-the-natural-hierarchy-of-money/ http://www.perrymehrling.com/2-the-natural-hierarchy-of-mone... ...