The development of money functions

Image credit: *John Liu


An overview of the mainstream economics view of money functions and the sociological and Austrian views. While microeconomic theories of money try to understand it as a medium of exchange, unit of account and store of value, the conclusion of payment transactions is a distinct function. Lessons for new money-like instrument creation and electronic payment systems from the evolution of money.

Bankról, pénzről, tőzsdéről [On Banks, Money and Exchanges]

Original title in Hungarian: Pénzfunkciók fejlődésben.