Image credit: *John Liu

The development of money functions

Image credit: *John Liu

The development of money functions

Abstract

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.

Type
Publication
Bankról, pénzről, tőzsdéről [On Banks, Money and Exchanges]
Date

Original title in Hungarian: Pénzfunkciók fejlődésben.