February 8, 2013 at 2:04 pm #16937
I can grasp media of exchange not being a consumer good, but very blurry about it not being a production good.
Money does not lose its physical integrity after use, but the same can also be argued for a hammer which stays more or less intact after hammering in a few nails.
I’m trying to find a strict dichotomy between capital goods and media of exchange, but having no luck just yet.
Then I found this paper by Dr. Barnett and Dr. Block, and now I’m totally confused.(is there any formal rebuttal to this?)