Monetary Woe, Part I

Some Contemplations on the Economics of Money

Money is often treated as a good exchanged for other goods and services. But the demand for goods and services is not the same thing as the demand for money. The demand for stocks, bonds, and commodities is also not the same thing as the demand for money.

The demand for money is the demand to hold money, e.g. to have “cash in hand.” The demand for money…