Money in the Mechanical Exchange

'Money in the Mechanical Exchange' by William Stanley Jevons delves into the fundamental principles of money and its role in facilitating economic transactions.

Jevons examines the properties that make a commodity suitable for use as money, such as durability, portability, and divisibility.

He also discusses the concept of a 'double coincidence of wants' and how money overcomes this limitation of barter systems.

Furthermore, the book explores the importance of standardization and coinage in promoting efficiency in exchange.

Jevons provides insights into the relationship between money, prices, and the overall functioning of the economy, laying the groundwork for modern monetary theory.

It offers valuable perspectives on the historical development and essential characteristics of money.