The Role of Money

Chapter 17 of John Maynard Keynes’s General Theory of Employment, Interest and Money: “Unemployment develops, that is to say, because people want the moon;–men cannot be employed when the object of desire (i.e. money) is something which cannot be produced and the demand for which cannot be readily choked off. There is no remedy but … Read more

In today’s world, money has no “inherent” value—that is, it has no useful properties other than absolute liquidity, which enables people to obtain anything of value into ownership. Modern society creates money at its own discretion, without being tied to reserves of gold or any other commodities that need to be obtained. This type of … Read more