“The real trouble is that money and money power now exceed their rightful use, to serve as a medium of exchange.”

The Cork Co-Operator (1939)

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Timothy Quill8

Early Dáil member, cooperative organiser, agriculturalist 1901–1960

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“Money as a medium of exchange becomes important when workers are paid in medium of exchange rather than in wage goods directly. Since wage goods constitute the majority of goods produced (particularly in the early stages of development), it is tempting (but misleading) to focus on exchanges and on money as a medium of exchange [like the neo-classicals]. Once capitalist production dominates the economy, money becomes universally important: money operates as a medium of exchange and money hoards provide a measure of security. However, production involves goods and services now in exchange for a promise to pay in the future. That is, money is involved in the production process because production is time-based and involves debt commitments. If one only focuses on the use of money in exchange or as a store of value, one ignores how money creation is inextricably related to time-based production in private property economies.”

L. Randall Wray (1953) American economist

Source: Money and Credit in Capitalist Economies, 1990, p. 10; Cited in Howard Stein. "Theories of institutions and economic reform in Africa." World Development 22.12 (1994): 1833-1849.

“Money is a commodity … not a useless token only good for exchanging; … It differs from other commodities in being demanded mainly as a medium of exchange.”

Murray N. Rothbard book What Has Government Done to Our Money?

What Has Government Done to Our Money? (1980)

“Time, for Homo economicus, is not “the stream I go a-fishing in.” It is a medium of exchange. We trade our time for money.”

Curtis White (1951) American academic

"The spirit of disobedience: an invitation to resistance"

“The cumulative development of a medium of exchange on the free market — is the only way money can become established. … government is powerless to create money for the economy; it can only be developed by the processes of the free market.”

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“Money was intended to be used in exchange, but not to increase at interest.”

Aristotle book Politics

Book I, 1258b.4
Politics
Context: Money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of all modes of getting wealth this is the most unnatural.