The Nature of Money

John Hicks

in A Market Theory of Money

Published in print August 1989 | ISBN: 9780198287247
Published online November 2003 | e-ISBN: 9780191596407 | DOI:
 The Nature of Money

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It will no doubt be taken for granted that in the markets that have been discussed so far, the typical transaction is an exchange of some article (good or service) for something that is recognized as being money. It may also have been taken that the money is simply handed over, as one does when one buys a newspaper in a shop. This chapter calls into question these two assumptions, asking how far they are justified.

Keywords: money; monetary theory; exchange of goods or services; payment

Chapter.  2674 words. 

Subjects: Macroeconomics and Monetary Economics

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