4 ms·
I’d say this is the high school textbook version of the story. Money is simply the “best” medium of exchange in a given context. Stable value and fungibility (“
by jkhdigital 4y ago
I’d say this is the high school textbook version of the story. Money is simply the “best” medium of exchange in a given context. Stable value and fungibility (“unit of account”) are attributes that make something better at this role, because it becomes suitable for a wider range of transactions across time and scale. Ludwig von Mises has a lot more to say about this.
- scott_w 4y ago> the rebuttal requires knowledge on how money actually works. I don't think we disagree at all. I'm not an economist or finance expert, after all ;-)