Money veil

The view held by some classics of economics that money measures merely represent real economic transactions. It is therefore possible to remove this veil without hesitation in order to recognize the underlying heart of the matter, namely the actual economic transactions in reality. – It is assumed here that the measure property of money remains unchanged internally and externally, which was also true by and large for the gold currency of earlier times. Today, however, changes in the money supply or in exchange rates have a direct impact on the real economic process in a variety of ways. – See oil price, expectations, money, neutral, monetary policy without money, money neutrality, long-term, money-matters theorem, paper currency, pure, currency, exchange rate. – Cf. ECB Monthly Bulletin, November 2010, pp. 101 f. (money supply is a key determinant of macroeconomic dynamics).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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