The view that a change in the money supply ultimately merely means a change in the yardstick which money offers as a unit of account, i.e. as a yardstick for the valuation of goods. In principle, however, this would not lead to any lasting direct changes in production and employment. This opinion has been empirically refuted beyond doubt (falsified = contradicted by facts). – See money, neutral, money value adjustment costs, money functions, money veil, money value stability, inflation, lie-and-deceive thesis, menu costs, Moneymatters theorem.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/