money has nothing to do with traded output, but everything to do with storing value. But now a new trade theory takes over … monetary theory, by reducing money into a mere tool of trade, as just a means of payment. It takes over theory of exchange … arbitrage, and payments through seigniorage (by creating and issuing money). Suddenly economics studies economy rather than …

'Reality of money' is curiously similar to uncertainty theory of (Hisenburg)quantum physics. To some (natural societies … is thus decided by producers in commodity exchanges. Others (Republicans of Greek civilization) think, money can be only … and time) of money used as unit for measurement of the prices. Under these circumstanes, exchange control is monopoly of …

distinguish its Balance Sheet from its Statement of Conditions. (2) Fiat money should not appear as a liability in a Balance Sheet …

high priority needs in the life, and smaller needs can be subsequent, for progressive happiness. Money cannot bring …

Using a macroeconometric framework, this paper analyses relationships among money, barter and inflation in Russia … findings suggest that barter has resulted partly from output losses and partly from a reduction in real money balances, but to … a lesser extent. There is some evidence that the effect of barter on prices is less than that of money. We also find …

customers. These relations deal with value (quantities and prices), payment (subsistence, barter, money, and bond) and …

order to generate a role for money and intermediation. We ask whether there is any reason to expect the emergence of a … banking sector (i.e., institutions that combine the business of money creation with the business of intermediation). In our … model the unique equilibrium is characterized, in part, by the existence of an agent that: (1) creates money (a debt …

This paper tests for long run effects of money on real expenditures in the U.S. over the 1959-2002 period. Real … money on long run reallocations of consumption expenditures among durables, nondurables, and services. The time series …

-in-advance constraints. The total amount of money is supplied by an authority, which produces at no cost and lends money to agents at short …

indirect trade, money also must be used. Micro says that price is equal to marginal cost, rejecting trade theory’s claim that … trade is gainful. To remove these and other contradictions, price theory must be repaired. Money’s role in market clearing …