A Trilogy by Bruce Beach
Meaning of Money (this essay)
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Bruce Beach (1934 - ) M.A. Economics 1970 Texas Christian University |
I am an old man and I have studied and taught non-conventional economics for many years, but until just the last very few years, and even after having taken courses and reading books on the subject, I often remarked that monetary theory is one thing that I had never understood. Now, I understand that those who espouse various systems of monetary theory, and who are called experts in it, do not really understand money. What they understand and espouse are the workings of their particular system - no matter how divorced from reality it may be. So, forget all that confusion.
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Here you are only going to need to learn and understand six things:
The Meaning of Money
b. As a medium of exchange c. As a measure of value
b. currency c. money
b. Nominal currencies c. Fiat currencies
b. money created privately c. money created publicly
b. Full employment c. Limitation and transfer of wealth
b. Sinners c. Satans
b. What should be done c. What will be done
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