3 ms·
You don't understand what money is. To a first approximation, money is a intermediary unit for converting and exchanging value; it's not a large proportion of w
by barrkel 7y ago
You don't understand what money is. To a first approximation, money is a intermediary unit for converting and exchanging value; it's not a large proportion of wealth by itself.
The world could make do with very little money if it could move faster. Quantity of money times velocity of money times unit of time gives you the total monetary transactions over a time period; if you increase the velocity, then you can decrease the quantity, and nothing else would change.
https://en.wikipedia.org/wiki/Velocity_of_money https://en.wikipedia.org/wiki/Velocity_of_money