Effort Quote by E.C. Riegel
“As has been stated, the purpose of money is to split barter into two parts so that the seller is free to find his source of supply later and elsewhere. This is the sole purpose of money. Any effort to use money to serve another purpose is perversive; and this statement condemns the entire managed money philosophy.”
About This Quote
Source Treatise: Economic Theory of Money, 19th Century
Money exists to facilitate exchange by separating the act of buying from the act of selling, allowing later sourcing of goods.
In simple terms: Money splits barter into two steps for flexible trade.
Key Takeaway
Use money for trade, not as a moral tool.
Themes
economics
exchange
monetary theory
Mood
analytical
critical
Type
theoretical
philosophical
When to use this quote
- budget planning
- business negotiations
- personal finance
- investment decisions
Key Concepts
division of labor
liquidity
market coordination
Questions to Reflect On
- How does this view affect modern monetary policy?
- Can money ever serve social goals without distortion?
A Different Perspective
Assumes rational actors and stable markets, which may not hold.
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