Money, Banking and Finance 01
Worldwide except for a couple of renowned cities, the three captioned words are generally regarded of a certain kind, yet another kind than utility, economy, efficiency and effectiveness. First of all they are “nominal” (U ∙ m), as opposed to “real and substantive” (M ∙ U) of the latter. This fact (read: truth) is particularly opined by the Nobel laurates Paul Samuelson and William Nordhaus : “Money is useless until we get rid of it” (2010, p. 458; i talics added). Second of all, “Money, Banking and Finance” when in Classical works would stay “stationary” under the fame of “equilibrium” in stock, balance, and peace; later days, the Keynesians call the same the “steady state” (each in T 0 ). All these are opposed to all those creative powers in the keep of running, flowing, destructing, creating, “nominally destructing yet really creating,” progressing, and growing (all in T -1 ). ...