monetary economy


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monetary economy

an economy that is characterized by the use of MONEY as a medium of exchange and store of value. Contrast BARTER.
References in periodicals archive ?
The latter will appreciate Fried's book more for its breadth, a narrative that prioritizes intellectual and cultural history no less than political, and its revelation that globalization, reason, nationhood, and the monetary economy all have their origins in medieval Europe.
Although the Greeks were not empire-builders, they traded extensively and spread a monetary economy through Eurasia, and their poets and philosophers became highly respected far beyond the borders of their homeland.
A monetary economy routinely entails risks, above all the chance that financial commitments will not be honoured, or anticipated monetary returns not received, or liquidity not satisfactory; and these together render the conventional liberal postulation of equilibrating tendencies preposterous.
An economic activity in a modern economy contains, at one side, the production of goods and services and exchange of them, often called real economy; it also contains, at the other side, also the monetary economy which does not just include the financial reflection of the real activity but also capsulate the pure monetary transactions consisting from the transactions among the financial tools.
But, in the late sixteenth century, it was the "poets," says Landreth, who were poised to consider both the failure of commonwealth discourse and the damage inflicted by a monetary economy.
The conflict between tradition/religion/ community on one side and the values of a monetary economy on the other was already evident (and Christ's answer "Render unto Caesar" an artful construction as it is did not dispel the questions that echo through the millennia).
In cognitive capitalism, financialization, that is, the increased importance of financial markets, is an essential feature, and the system of money is no longer a simple monetary economy of production.
The consequence of such an assumption is that "by construction, in such models, there's no difference between "saving" and "financing", which are two distinct notions in a monetary economy, in which credit creation plays a fundamental role" (Borio, Disyatat, 2011, p.
She explained that as an employment indicator, it measures the degree to which women have equal access to paid employment and, thus, their contribution to the monetary economy.
Rational Choice and patterns of Growth in a Monetary Economy," The American Economic Review, Vol.
This is a somewhat strange place to be in,in the sense that a buyer and a seller have always had a personal relationship based on not just a monetary economy, but on understand- ing needs and desires and ex- pectations met, and the rela- tionship is now based solely on buyer to product.
Marshall (1992) investigates the relationship of Inflation and Asset Returns in a Monetary Economy.