Free Market
Author:
Joseph T. Salerno
Online Publish Date:
The Free Market 32, no. 7 (July 2014) According to mainstream economics textbooks, one of the primary functions of money is to measure the value of goods and services exchanged on the market. A typical statement of this view is given by Frederic Mishkin in his textbook on money and banking. “[M]oney ... is used to measure value in the economy,” he