Yeager, Leland - In: BNL Quarterly Review 60 (2007) 241, pp. 195-205
medium of exchange evolved earliest. Quite plausibIy, one function carne first in some times and places, the other in others … payments system can readiIy accommodate multiple media of exchange (if, indeed, notes and deposits of different banks and … in the sense of a numéraire defined independently of any partieular medium of exchange. …