Money and the Monetization of Credit
The relationship between money and credit is discussed in terms of network linkage. Fiat money is the only instrument with the universal recognition of its issuer. Near monies such as bank money and money substitutes such as gasoline credit cards can be classified in terms of their network links. This leads to a way of considering the velocity of money.
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- Martin Shubik, 2000.
"The Theory of Money,"
00-03-021, Santa Fe Institute.
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