Fractional reserves - PowerPoint PPT Presentation

Why Money?

Innovation and Cryptoventures. Why Money?. Campbell R. Harvey Duke University, NBER and. Purposes. Purposes: Primary Unit of Account : A way to compare the value of various goods and services Medium of Exchange : Allows for non-barter transactions. Secondary

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The Challenges of Monetary Reform

The Challenges of Monetary Reform. Origin of Money. Carl Menger, Principles of Economics , 1871 http:// mises.org/etexts/menger/principles.asp Chapter VIII: Theory of Money Direct exchange (barter) has limitations Coincidence of wants Indivisibility

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313 views • 13 slides

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