Stefanov, Yaroslav - In: Economies : open access journal 10 (2022) 1, pp. 1-16
consider power. The concept of generalized power is introduced. It is generalized power that serves as the primary comparable … and measurable objective basis of exchange. The power theory of exchange provides the objective price-equation. It is … demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent …