The Nature of Money
by Geoffrey K. Ingham · first published 2004
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2recommended by
2HN commenters
2020–2022first – last mentioned
100% recommend
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…from different supporters is quite different, e.g. some argue it is useful as a means of payment, some argue it isn't but it will be, some argue it is only useful as a store of value. If you read "The Nature of Money" by George Ingham, you'll see that many economists think of money as something that is simultaneously: (1) A means of payment (2) a unit of account (3) a store of value. And historically, all successful…
on “Crypto assets are ‘worth nothing,’ says ECB’s Christine Lagarde” ↗The Nature of Money, Geoffrey Ingham, predates Bitcoin and the financial crisis, but it is still the most incisive theoretical discussion of money I've read. If Debt: The First 5000 Years is undergrad, The Nature of Money…
on “What is money, anyway?” ↗…is that there are, and have been, a lot of different kinds of money- credit money and exchange money and asset money and so forth. A relatively abstract/intellectual but immensely useful survey is The Nature of Money - Geoffrey Ingham The concept of an asset is critical to the functioning of the financial system. New kinds of assets are created all the time. One of the best written books I have read recently goes…
on “Ask HN: Book recommendations for understanding financial systems?” ↗…"state money" and "bank money" is a poor way to talk about credit. In terms of references, tons and tons and tons of prior art defining money and so forth. A book I recently enjoyed a great deal is: The Nature Of Money, Geoffrey Ingham https://www.amazon.com/Nature-Money-Geoffrey-Ingham/dp/07456... And this more recent Bank of England paper is exceptional: https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...
on “A linguistic glitch tricks us into thinking bank deposits are deposited in banks” ↗