Tag Archive for: quantity theory of money

The Anti-Concepts of Money: Conclusion

The Anti-Concept of Money Conclusion

The Anti-Concepts of Money The cash-value of promoting each of these anti-concepts is that they lead people to think that the central bank should impose a monetary policy. To make our lives better.  Our monetary policy is set by the Federal Reserve, which states that in pursuit of its mandate for price stability, it will engineer […]

The Anti-Concepts of Money: Stagflation

Anti-Concept Stagflation

If you’ve read the Inflation essay from this Anti-Concepts of Money Series we can now discuss the Anti-Concept of Stagflation. The Anti-Concept of Stagflation  Stagflation. This is a curious term. Wikipedia’s definition has the tell-tale signs of an anti-concept:  “In economics, stagflation or recession-inflation is a situation in which the inflation rate is high, the […]

The Anti-Concepts of Money: What is GDP?

What is GDP?

If you’ve read the Introduction from this Anti-Concepts of Money series we can now discuss the Anti-Concept: GDP The Anti-Concept of GDP Let’s discuss thet anti-concept, Gross Domestic Product or GDP for short. Armed with an understanding of anti-concepts, it should be obvious from one of the ways it’s calculated. From Wikipedia:  Y = C […]

The Anti-Concepts of Money: Store of Value

Anti-Concept Store of Value

If you’ve read the previous essays on Purchasing Power, Inflation, and Money from this Anti-Concepts of Money series we can now discuss the Anti-Concept: Store of Value The Anti-Concept of a Store of Value Another anti-concept is store of value. The very term evokes a picture of a container. You pour water into the container, […]

The Anti-Concepts of Money: Inflation

Anti-Concept Inflation

If you’ve read the previous essays on Purchasing Power, Velocity, and Money from this Anti-Concepts of Money series we can now discuss the Anti-Concept of Inflation The Anti-Concept of Inflation  The Anti-Concept of Purchasing Power leads us to the Anti-Concept of Inflation.  That pseudo-equation already smuggles that any increase in the quantity of money causes […]

The Anti-Concepts of Money: Purchasing Power

Anti-Concept Purchasing Power

If you’ve read the previous essays on Velocity and Money from this Anti-Concepts of Money series we can now discuss the Anti-Concept of Purchasing Power. The Anti-Concept of Purchasing Power  Let’s look at another anti-concept, purchasing power. Wikipedia defines it as:  “the amount of goods and services that can be purchased with a unit of […]

The Anti-Concepts of Money: Velocity

Anti-Concept Velocity

If you’ve read the What is Money? essay from this Anti-Concepts of Money series we can now discuss the Anti-Concept of Velocity. That pseudo-equation MV=PQ described in the What is Money? essay leads us to the anti-concept velocity.   The Anti-Concept of Velocity Even in the gold standard, money supply is not a physical object that […]

The Anti-Concepts of Money: Risk-Free

Anti-Concept Risk-Free

If you’ve read the What Is Money? essay from this Anti-Concepts of Money Series we can now discuss the Anti-Concept “Risk-Free”. The Anti-Concept of Risk-Free Recall, that the anti-concept money is supposed to mean anything used as medium of exchange. But in reality, money is what you hold, when you do not wish to take […]

The Anti-Concepts of Money: What Is Money?

The Anti-Concept of Money Series

If you’ve read the Introduction to this Anti-Concepts of Money Series then we are ready to address money. The Anti-Concept of Money Merriam-Webster says money is:  “something generally accepted as a medium of exchange, a measure of value, or a means of payment.”  Wikipedia says:  “Money is any item or verifiable record that is generally accepted […]

The Anti-Concepts of Money: Introduction

The Anti-Concept of Money Conclusion

This essay is more philosophical than my typical writing. The reason is that I need to say something very important, that flies against everyone’s deeply held beliefs about money. And to get to the root of the issue, I must check and challenge the very concepts with which people think about the subject, in order […]