Wanted: Velocity of Money; New Haven vs. Cambridge
According to Irving Fisher from New Haven, money does its job while moving across two hands (L -1 , L for length in space dimension). As a natural consequence, each piece of legal tender sometimes called “ liquidity ” makes a certain number of turns per annum (T -1 , T for time). The aggregate pieces at all different rates of moves would yield the growth domestic products per annum ( Y in macroeconomics) Spending to Turning . The gravity on Earth creates energy by attracting an object before getting a work done, while the gravitating force of legal tender calls in utilities for human survival and higher-level welfare. The object (“M” for mass in dimension) never dies naturally; much likewise legal tender (U ∙ m) never fades away tenderly. Oh, we mean the principle of conservation! Where there is spending, there is getting spent. When anyone in the meantime eats, wears, burns or prints any ...