What Is Money?
Money may make the world go around, as the song says ... Even though using standardized coins or paper bills made it easier to determine prices of goods and services, the amount of money in the system also played an important role in setting prices.
The reason for the issuance of paper money is simple. There was a copper shortage, so banks had switched to the use of iron coinage. These iron coins became overissued ... equal in amount all the treasure of the world.” Even Helicopter Ben would be ...