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Money in Economic Activity

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The New Palgrave Dictionary of Economics
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Abstract

Money is a social relation. Like the meaning of a word, or the proper form of a ritual, it exists as part of a system of behaviour shared by a group of people. Though it is the joint creation of a whole society, money is external to any particular individual, a reality as unyielding to an individual’s will as any natural phenomenon.

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Foley, D. (2018). Money in Economic Activity. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_808

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