IDEAS home Printed from https://ideas.repec.org/a/kap/revaec/v13y2000i2p115-20.html
   My bibliography  Save this article

Alchian and Menger on Money

Author

Listed:
  • Baird, Charles W

Abstract

Carl Menger and Armen Alchian told stories of the emergence of money as a spontaneous order involving two types of costs--costs of recognizing attributes of goods and costs of finding willing exchange partners. Menger assumed that the first are zero and the second are positive. Alchian assumed the opposite. In the real world both types of costs are positive, so a truly satisfactory story of the emergence of money as a spontaneous order has yet to be written. This is another example of the complementarity of work done by some Austrian and some neoclassical economists. Copyright 2000 by Kluwer Academic Publishers

Suggested Citation

  • Baird, Charles W, 2000. "Alchian and Menger on Money," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 13(2), pages 115-120, September.
    • Handle: RePEc:kap:revaec:v:13:y:2000:i:2:p:115-20
    as

    Download full text from publisher

    File URL: http://journals.kluweronline.com/issn/0889-3047/contents
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Transaction Costs are the Costs of Engaging in Economic Calculation
      by ? in Econlog on 2020-06-03 21:54:10

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rosolino A. Candela & Peter J. Jacobsen & Kacey Reeves, 2022. "Malcom McLean, containerization and entrepreneurship," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(4), pages 445-465, December.
    2. Peter J. Boettke & Rosolino A. Candela & Peter J. Jacobsen, 2023. "Economic calculation and transaction costs: The case of the airline oversales auction system," Southern Economic Journal, John Wiley & Sons, vol. 89(3), pages 708-731, January.
    3. Rosolino A. Candela & Vincent Geloso, 2019. "Coase and transaction costs reconsidered: the case of the English lighthouse system," European Journal of Law and Economics, Springer, vol. 48(3), pages 331-349, December.
    4. R. Koppl, 2006. "Austrian economics at the cutting edge," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 19(4), pages 231-241, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:revaec:v:13:y:2000:i:2:p:115-20. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.