flitched9000

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.   Остгейци такие абздейци

…a universally accepted medium of exchange (i.e., money)…

As with every other good, the "price" of money (i.e., its purchasing power…

…Although (as a libertarian, Austrian economist) I fully condemn the monetary history of the US, and deplore the means by which the public was forcibly weaned from the gold standard, nonetheless it is simply misleading and inaccurate to deny that the green pieces of paper in our wallets and purses are genuine money. They satisfy the textbook definition [Sic!]: They are a medium of exchange accepted almost universally in a given region. …

. Conclusion

Most of the myths concerning money are easily exposed when we consider what money. … On both counts, the Austrian School of economics serves us well.

<https://mises.org/library/four-myths-about-money-ought-die-forever>


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