Suppose I can only hold one orange in my left hand and only one orange in my right hand, so how many oranges can I hold at most?

In the age of barter, the answer is two, one for the left hand and one for the right hand. In a barter society, there will always be no trading problems, because the left hand for the right hand is stable no matter what.

After the advent of metal money, or physical money, the answer is three. One on the left hand, one on the right hand, one in the air, and one in the air, the one that flies into the air is the physical currency.

Throw one after the other and play a game of changing hands.

But once there is a currency, there is always a problem with the transaction. Inflation, deflation or something.

Because the one thrown in the air is currency, there is always a time when you can't catch it. The acrobat was slightly stunned, and the ball in the air fell.

So in modern times, how many oranges can you throw?

This answer is not easy to answer, the world record is fourteen, if you change the robot to control, maybe it can be more.

Far from it.

Since the invention of modern financial instruments, there has been far more than one orange in the middle.

As long as the oranges don't fall to the ground, the game of throwing oranges can continue to be played and cycled, although this is ideal.

Continuing to lead from this question, does money play a role in promoting the economy?

The answer is yes and no, or look at the example of orange toss.

Suppose the left hand and right hand are holding oranges, and the middle is a ball. This is in line with the state of the transaction, where the currency is just a "meal replacement".

So no matter how many balls you add, you actually only have two oranges in your hand.

In absolute numbers, there are no more oranges. This is the reason why many people think that the increase in money has no impact on economic development, and the total amount of goods in circulation in society has not increased.

But from another point of view, has the number of oranges in my hand increased? In other words, has the frequency of changing hands become higher?

Turn the game of changing oranges into a concept of production and consumption. Every time there is an exchange, there is a production and consumption, so does it mean that in a certain period of time, the number of consumption and production increases?

This is the "time property" hidden in the currency, since the beginning of the transaction, then there is a hidden variable in the transaction: the frequency of the transaction.

Does the frequency of transactions have a significant impact on production and life?

Keynes argued that not only is there but that it is a key variable. Of course, there are also economists who believe that there is not, because there is an upper limit to productivity, and when it reaches the upper limit, no matter how much it is stimulated, it will be difficult to substantially increase. The number of transactions does not directly increase productivity.

So let's focus on the small party issuing Jiaozi, regardless of whether Brother Ji and the Tang Dynasty government will over-issue, just look at this policy tool, does it have a driving force for economic development? If so, how much pulling power is there?

Well, at least Jiaozi is a relatively easy tool for scams, right?

What will happen next is to read the book, I won't explain the plot, so much more.

Double the last day today, ask for a ticket.