Alternatives and Supplements: Fun on the Internet
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Money Matters

What is Money?

Anna Schwarz, coauthor with Milton Friedman of the book A Monetary History of the United States, 1867-1960, explains why the amount of money in an economy is important:

Measuring Money

The Federal Reserve Bank of New York has a series of educational essays called "fedpoints." This one explains how money is measured:

The Equation of Exchange

The History of Economic Thought Website at The New School for Social Research is an impressive web resource in economics, but usually too advanced or technical for an introductory class, and that is why it is rarely cited in these Alternatives and Supplements. Here is there profile of Irving Fisher, one of the more influential admirers of the equation of exchange:

Assumptions of the Quantity Theory

Allan Meltzer, one of the leading monetarist economists in the second half of the twentieth century, explains monetarism, the modern incornation of the Quantity Theory of Money in this entry in The Concise Encyclopedia of Economics:

Aggregate Supply and Demand

I had a hard time finding something to put here, but maybe this article explains why I had trouble. It is a bit technical for a beginner.

Commodity Monies

Cigarettes served as money in the POW camps of WWII. R. A. Radford explained how this money functioned in one of the truly classic articles of economics:

When smoking was banned in federal prisons, the cigarette currency was replaced with the "mack." The Wall Street Journal explains:

The Gold Standard

This article from The Concise Encyclopedia of Economics explains the gold standard in more detail than does CyberEconomics:

These links were checked on July 5, 2008.

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