ABSTRACT

In its common meaning, exchange is a transaction involving at least two people and two goods. Once money intervenes, exchange is no longer conceived as a relation from good to good, because, even in the mind of the man in the street, it is at least doubtful that money should simply be one good among other goods. Once money is perceived in the emission, the thought process avoids the common opinion that views the monetary exchange as an agreement between two “partners”. The exchange of products can only be carried out through the mediation of money. Exchanges in the products market are just the “reflection in a mirror” of the exchanges in the producing services market; in principle, it would be useless to look for another proof. The nature of macroeconomics is never as obvious as in the payment of incomes.