Economics, Econometrics and Finance
8 years ago

Institutional economics and state theory reveal how money shapes economic value.

˜The œJournal of Philosophical Economics
Money and value: a synthesis of the state theory of money and original institutional economics
Γεώργιος Παπαδόπουλος

Paper Summary

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The paper combines ideas from economics and money theory to show how money influences the value of things. It argues that value isn't just about individual preferences, but is shaped by social institutions like money. Money helps set prices and resolve conflicts over how goods are distributed.