Question

money is what money does. who gave this definition​

Answer 1

According to Prof. Walker, 'Money is asmoney does.' ADVERTISEMENTS: This means that the term money should be used to include anything which performs the functions of money, viz., medium of exchange, measure of value, unit of account, etc.

Hope it will sure help......

Answer 2

This definition was propounded by Professor F.A Walker.

• The term is now abandoned in today's world as this concept will not imply in modern economics.
• Money is something which is accepted by everyone, it gives an economic measure in the society.
• Many economists were against this concept, as they found the concept is impractical and does not have a logical sense.
• This concept makes the money rigid and less dynamic in nature.