Revisiting the Definition of Money

  • Fernando Ulrich
Keywords: Money, Currency, Medium of exchange, Indirect exchange, Definition, Concept

Abstract

According to the majority of Austrian School economists, money is defined as the universally accepted medium of exchange. However, this notion of money is vague. Thus, aiming at removing as many imprecisions as possible, we hereby propose a refinement in the definition of money.

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Published
2013-12-01
How to Cite
Ulrich, F. (2013). Revisiting the Definition of Money. MISES: Interdisciplinary Journal of Philosophy, Law and Economics, 1(2), 433-440. https://doi.org/10.30800/mises.2013.v1.497
Section
Economics, Methodology and Praxiology