According to Rothbard the store of value function is derived from the medium of exchange function. When a money is widely accepted people are willing to store it cause they know they can buy things in the future.
This would make it
Medium of exchange -> store of value -> unit of account
Thoughts?
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Replies (2)
People donβt store money because they can spend it tbh. My pov is that they spend it because they trust it will still store value tomorrow. Which would proof my perspective. PV π€πΌ
I'm not certain as you. But I can see your pov. Why would they store it in the first place if they can't be certain they can use it?