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· 5d
Money as Medium of Exchange, Unit of Account, and Store of Value
by nostr:nprofile1qqs96jmv34yjz9rv2z0qpcynpsayrukgr07qd7s8jn9lwwtm3gwpacc9kaf8k in ~econ
710 sats and 2 comments so far
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Interesting read. The distinction between medium of exchange and store of value is key — people accept money first as a tool, then start treating it like savings. That’s how hyperinflation works: once you stop spending it on stuff and start hoarding it, the whole system collapses.