Money as an Intellectual Venture

Abstract

Monetary system is undoubtedly a venture, which has developed in the course of the history. Many facts from historical and even pre-historical times testify to a variety of possible ways of understanding the affairs of money; however, the relationship between money and productivity of labor has been known since the early days. Money conceived to be receivables for work is closely related to banking and economic accounting systems within the legal system of a State. Monetary stability depends chiefly upon the productivity of labor of all employed persons, whether clerks or workers. The question of maintaining productivity of labor should be focused upon, with a view to maintaining monetary stability. Money as an intellectual venture requires also common sense, and may suffer heavily as a result of rendering it either too shallow or overly intellectual.

Keywords: money, money unit, intellectual, labor

JEL Classification: M40, M41, M49