“Money is here called the a medium and not, as customary, a unit of account because, clearly, money itself is not a unit, but the good whose unit is used as the unit of account.”

Source: The theory of money, 1978, p. 118

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Jürg Niehans5

Swiss economist 1919–2007

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“Money is here called the a medium and not, as customary, a unit of account because, clearly, money itself is not a unit, but the good whose unit is used as the unit of account.”

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