Why money is more than a means of circulation

Functions of money, its role for emergence and performance of market economy are considered. Money is interpreted as a socially accepted form of wealth which role is to neutralize the impact of differences in liquidity and maintenance costs among traded goods on pricing. This approach is compared to those of classical, neoclassical and institutional economics. Rival theories of money origins are used as a background to assess controversies over contemporary fractional reserve banking.

Keywords

theory of money, prices, liquidity, maintenance costs, banking

Received

12.09.2020

Publication date

17.12.2017

Number of characters

587

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GOST	Gogohia D. Why money is more than a means of circulation // Obshchestvennye nauki i sovremennost – 2017. – Issue 6 C. 147-157 [Electronic resource]. URL: https://ons-journal.ru/S086904990011471-0-1 (circulation date: 25.04.2024).
MLA	Gogohia, Dorimendon "Why money is more than a means of circulation." Obshchestvennye nauki i sovremennost 6 (2017):147-157.
APA	Gogohia D. (2017). Why money is more than a means of circulation. Obshchestvennye nauki i sovremennost (6), pp.147-157

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