ABSTRACT
Economics, almost since it became a science, has continually resisted the popular errors which cling to the phenomenon of money — quite rightly. Credit in the ordinary routine of established business owes its practical importance solely to the fact that there is development and that this development carries with it the possibility of employing sums of money which are temporarily idle. The money market is always, as it were, the headquarters of the capitalist system, from which orders go out to its individual divisions, and that which is debated and decided there is always in essence the settlement of plans for further development. Thus the main function of the money or capital market is trading in credit for the purpose of financing development. The capital of an enterprise, however, is also not the aggregate of all the goods serving its purposes. The entrepreneur must have capital before he can think of providing himself with concrete goods.
