The Promises Men Live by: A New Approach to Economics

action activity actual Adam Smith amount ancient bank deposits bank's bankers become bonds borrow business cycle called cent certainly citizens coined money common complete the exchange corporation course debt debt-slavery deferred ex deferred exchanges depositors dollar economic enterprise economic promises economists enter existence fact Federal Reserve Banks Federal Reserve notes forms of wealth fulfilled give gold gold certificates government promises Gresham's Law half half-exchanges happens human increase individuals insurance companies ises labor land less loans long promises means ment merchants merely millions modern money-changers mortgage nation nomic ownership paper money pay money period persons piece of paper principal production prom promised money promises to pay promisor real money reason record relinquish rulers short silver simple so-called social society thing thousand tion token money total volume transaction true trusted United volume of exchanges words