ABSTRACT
All economic laws would be given at the level of “microscopic” magnitudes, to be aggregated afterwards. Global analysis would be nothing other than the science of the aggregates. In truth, the existence of the producing services market is not at all ignored. The theory of emissions is, from the outset, far more realistic. It starts from production. The products market is subordinate. The distinction between money and real goods operates the distinction: money is the cost of real goods, which are not the cost of money. Scientific language should refrain from talking indifferently of prices and costs. The cost of domestic output is the number of money units issued in the process of production. Society includes one single firm, employing one single worker. The theory of emissions shows the exact impact, which is far from negligible, of the general increase of nominal wages.
