“The sole use of money is to circulate consumable goods.” Those are the words of Adam Smith. It was a throwaway line in Wealth of Nations so over-the-top obvious was it. Money only has a purpose ...

I have been teaching economics since 1967 — 40 years of it at George Mason University in Fairfax, Virginia. During that interval, economic reality has not changed. Just as Galileo’s law about the ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Katrina Ávila Munichiello is an experienced ...

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