monetary economy

(redirected from Monetized economy)

monetary economy

an economy that is characterized by the use of MONEY as a medium of exchange and store of value. Contrast BARTER.
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But rather than ceasing operation or radically restructuring, most industrial enterprises unable to make ends meet in the monetized economy renewed the specific dependencies required for survival through non-monetized exchange--barter and later quasimonetary instruments.
Hence the local "substantive economies" are just as valid, even though noncommensurate, as the national monetized economy, and are more socially desirable as they preserve existing real production and employment.
Money Unmade: Barter and the Fate of Russian Capitalism
The GPI reveals that much of what we now call growth or GDP is really just one of three things in disguise: fixing blunders and social decay from the past, borrowing resources from the future, or shifting functions from the traditional realm of household and community to the realm of the monetized economy.
REAL WEALTH

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