jerrybature_ on Nostr: As the operation of the market tends to determine the final state of money’s ...

As the operation of the market tends to determine the final state of money’s purchasing power at a height at which the supply of and the demand for money coincide, there can never be an excess or deficiency of money. Each individual and all individuals together always enjoy fully the advantages which they can derive from indirect exchange and the use of money, no matter whether the total quantity of money is great, or small.... the services which money renders can be neither improved nor repaired by changing the supply of money.... The quantity of money available in the whole economy is always sufficient to secure for everybody all that money does and can do."