The veil of money is the property assumed by some economists whereby money is a commodity like other commodities – such as oil or gold or food – as opposed to its having special properties. This question arises in classical political economy, where John Stuart Mill argues that money is unimportant, and that while money might disguise the true values in an economy, it would only do so for a limited period of time.
The veil of money is the property assumed by some economists whereby money is a commodity like other commodities – such as oil or gold or food – as opposed to its having special properties. This question arises in classical political economy, where John Stuart Mill argues that money is unimportant, and that while money might disguise the true values in an economy, it would only do so for a limited period of time.
Source: Wikipedia "Veil of money" · CC BY-SA 4.0
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