The Theory of Money
The basic role of fiat money in a dynamic economy is considered. Its role as a virtual asset whose store of value properties are the outcome of the dynamics is explored and the role of the limits on the money supply and the bankruptcy laws in bounding prices are considered. The actions of the government may serve to bound individual expections.
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|Date of creation:||Mar 2000|
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Web page: http://www.santafe.edu/sfi/publications/working-papers.html
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