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Pastimes : Book Nook
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To: Mike M2 who wrote (375)9/4/2001 12:31:49 PM
From: Ilaine  Read Replies (1) of 443
 
As Don pointed out, I got the idea from him, and he got the idea from Rothbard. But I don't know whether other Austrian economists reject the concept of the velocity of money. The velocity of money is the result of a simple mathematical equation - dividing the total national income by the total money stock. It does tend to rise during expansions and decline during contractions - but then, the national income tends to rise during expansions and decline during contractions, too.
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