Proposition: an idealized efficient market would not need money as a store of value at all, only book-keeping. Does this make sense?
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wait, what? Why? Still need flexible means of exchange, store of value. And fractional reserve banking sounds problematic w/out money.
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. yeah that's what I mean... it retains means of exchange function. But store-of-value function becomes unnecessary.
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Money is for:
-store of value
-means of exchange
-unit of account
Economic calculation requires the third. Differences in liquidity
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wwwf.imperial.ac.uk/~mdavis/docs/A you could have all transactions be denominated in terms of icecream delivered on a sunny July 1st 2014 in SF





