Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Don Lloyd who wrote (6130)	7/20/2001 11:45:42 AM
From: Ilaine	Read Replies (1) of 74559

>>the concept of the velocity of money is a meaningless calculation result<< Friedman defines the velocity of money as the ratio of money income to the stock of money. If there are 5 people who each earned $100 in a time period, and the money stock is $100, then the money stock changed hands five times during that time period. That is the velocity of money.

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