Money as a Market Institution vs. Money as a Veil Sep 4, 2014
Money is generally referred to as the medium of exchange. Thus far most economists agree. Kind of. According to the Wikipedia article on money, which summarizes the common view, the functions of money are generally listed as "a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment." This makes it a little more open what "is" a money, but to be a medium of exchange certainly is a core attribute or function. And, one can argue, if it is the generally accepted medium of exchange then it also functions as a unit of...
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