Malum Necessarium on Nostr: Money is no promise to pay. Its the ability to pay in the future but free of any ...
Money is no promise to pay. Its the ability to pay in the future but free of any obligation to do so.
... unless you entered a transaction already - which is what these farmers with their not-yet-grown bushels have done.
Money is "the most marketable security" (Mises) and therefore a way to solve the intertemporal problem which trade and production bring along with themselves.
... unless you entered a transaction already - which is what these farmers with their not-yet-grown bushels have done.
Money is "the most marketable security" (Mises) and therefore a way to solve the intertemporal problem which trade and production bring along with themselves.