Louis O. Kelso Quotes:
Ocupation: Economist
Life: April 12, 1913 - 1991
Birthday: April 12
Death: 1991
Money is not a part of the visible sector of the economy; people do not consume money. Money is not a physical factor of production, but rather a yardstick for measuring economic input, economic outtake and the relative values of the real goods and services of the economic world. Money provides a method of measuring obligations, rights, powers and privileges. It provides a means whereby certain individuals can accumulate claims against others, or against the economy as a whole, or against many economies.
topic: Real, Mean, Rights, Factors Of Production, Goods And Services, Relative Value
