The Money Illusion
English


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About The Book

In economics money illusion refers to the tendency of people to think of currency in nominal rather than real terms. In other words the numerical/face value (nominal value) of money is mistaken for its purchasing power (real value). This is false as modern fiat currencies have no inherent value and their real value is derived from their ability to be exchanged for goods and used for payment of taxes. The term was coined by John Maynard Keynes in the early twentieth century.Almost every one
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Details

ISBN 13
:
9798880918225
Publication Date
:
26-03-2024
Pages
:
116
Weight
:
257 grams
Dimensions
:
152x229x11.11 mm
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