A flaw in monetary thinking

Jacques Riboud

Chapter 4 in The Mechanics of Money, 1980, pp 155-165 from Palgrave Macmillan

Abstract: Abstract There exists a fundamental flaw in contemporary monetary thinking which invalidates interpretations of the indicators, causes wrong decisions to be taken, disrupts the mechanisms and paralyses monetary regulation, or causes it to work in reverse. This flaw consists of a failure to discriminate between those categories of assets that are used as means of exchange and those that are not, those that have a definite payment function and those that do not, those that may be transformed into money or cause the creation of money and those that are money.

Keywords: Commercial Bank; Money Supply; Foreign Currency; Credit Union; Saving Bank (search for similar items in EconPapers)
Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-05112-0_14

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DOI: 10.1007/978-1-349-05112-0_14

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