According to the New Monetary Economics (NME), the introduction of non-tangible payments media would altogether invalidate current monetary economics. After an illustration of the main tenets of the NME, critically analyses its rejection of both the quantity theory and liquidity preference on...

According to the New Monetary Economics (NME), the introduction of on‐tangible payments media would altogether invalidate current monetary economics. After an illustration of the main tenets of the NME, critically analyses its rejection of both the quantity theory and liquidity preference on...