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A Market Theory of Money$
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John Hicks

Print publication date: 1989

Print ISBN-13: 9780198287247

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198287240.001.0001

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The Nature of Money

The Nature of Money

(p.41) 5 The Nature of Money
A Market Theory of Money

John Hicks

Oxford University Press

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

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