>>If transaction cost is low enough, commodities become money, and money commodities. There's no need for a numeraire. Someday. :-). Cheers, RAH <<
http://www.cyberclass.net/bartable.htm Barter Units of Money or BUMs should smell as sweet.There is a tide in the affairs of BUMs that taken at the flood leads on to good fortune. http://www.mindspring.com/~do-music/trade/ Keeping it simple for stupid since april 01.
