What does money use to communicate?
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In market contexts, one of the main ways money communicates is in the form of prices. Economists typically see price as the outcome of supply and demand, but it is also understood as a signal, and Hayek (1945. 1945
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In market contexts, one of the main ways money communicates is in the form of prices. Economists typically see price as the outcome of supply and demand, but it is also understood as a signal, and Hayek (1945. 1945. “The Use of Knowledge in Society.” American Economic Review 35 (4): 519–530.
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