Question

explain the changing nature of money with the help of diagrams​

Answer 1

Hicks in his Critical Essays in Monetary Theory points towards a threefold traditional classification of the nature of money: “to act as a unit of account (or measure of value as Wick-sell put it), as a means of payment, and as a store of value.” The Banking School criticised the traditional definition of money

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Answer 2

Hicks in his Critical Essays in Monetary Theory points towards a threefold traditional classification of the nature of money: “to act as a unit of account (or measure of value as Wick-sell put it), as a means of payment, and as a store of value.” The Banking School criticised the traditional definition of money as ....

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