Paper money makes possible a money supply that can be made to increase at substantally the same rate as the supply of goods and services in the economy increases. Paper money makes possible a money supply that can be made to increase substantially as the Monetary Authority of a country wants it to increase. Paper money (in contrast to gold or silver money) makes "monetary stability" an achievable goal. Paper money is one of the great inventions of all time.
William F. Hixson, It's Your Money
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