Friday, May 1, 2009
Aristotle and Good Money
"Aristotle defined a good money as; 1.) Durable, 2.) Portable, 3.) Divisible, 4.) Store of value. What Aristotle described as good money 2,000 years ago has not changed, sound money must be a good medium of exchange as well as a store of value. Fiat money carries a hefty premium for being a good currency but bad store of value,"
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