Economics Dictionary of ArgumentsHome
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| Money: Money in economics is anything that is generally accepted as a medium of exchange. It is used to buy and sell goods and services, and to store value. See also Markets, Economy._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Adam Smith on Money - Dictionary of Arguments
Rothbard II 164 Money/Adam Smith/Rothbard: If the supply of money is crucial to the movement of prices, bullion and exchange rates, it becomes vital to clarify what precisely that supply may be. Before Adam Smith, the eighteenth century British writers on money, such as Hume and Harris, muddied the waters by including in the concept of money virtually all liquid assets, such as bills of exchange and government securities. In the Wealth of Nations, however, Smith helped matters by distinguishing clearly between money, the general medium of exchange and the final means of payment, and other liquid instruments that are exchanged against money. Following Smith, Walter Boyd makes the distinction between money, or ‘ready money’, and other assets crystal-clear. For Arguments against Smith see >Money/Walter Boyd._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconSmith I Adam Smith The Theory of Moral Sentiments London 2010 EconSmithV I Vernon L. Smith Rationality in Economics: Constructivist and Ecological Forms Cambridge 2009 Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
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