[Modern Economic Problems by Frank Albert Fetter]@TWC D-Link book
Modern Economic Problems

CHAPTER 3
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The words "generally accepted" imply that money has a peculiar social character, is not an ordinary good.

As a price-good, money itself must be a thing having value, otherwise it could not be accepted.

Trade means the taking and giving of things of value.

Money is, therefore, not merely an order for goods, as a card or paper requesting payment; it is itself a thing of value (tho this value may be due partly or solely to its possessing the money function).

Such things as a telegram when transferring an order for the payment of money, as the spoken word, and as a mere promise to pay, are not money.


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