What do you believe "money" is?

[chris1982]

I was referring more to this.

https://www.tutor2u.net/economics/reference/measuring-national-income

But it seems people just use their own understanding of income/expenditure and then apply that at the macro level.

What does the income-expenditure identity have to do with the money? Surely, nothing at all, as it is a macro-level identity that holds all the time, even in barter economies, i.e. in the absence of money.

By the way, you might be interested to hear that the concept of income-expenditure identity, and from which national income accouting follows, goes back to Karl Marx.

 

[chris1982]

According to the Bank Of England

"...Narrow money (notes and coin) balances
Our notes and coin statistics show the amount of sterling banknotes and coins in circulation outside the Bank of England, including those held in banks' and building societies' tills..." Not current / cash accounts
M0 I believe.
https://docs.google.com/viewer?doce...cs/Documents/bankstats/2017/aug/TabA1.1.1.xls
Notes and Coin (£millions)
"...2017
Jan £81,399
Mar £81,651
Apr £81,743
May£81,956
Jun £82,210
Jul £82,355..."

So there you go, around £82.355 billion in circulation.
Between £4 to £5 billion in coinage (Royal Mint) http://www.royalmint.com/discover/uk-coins/circulation-coin-mintage-figures

About £1267 for each man, woman, child, and others in the UK. Not a lot is it ?

See the 'M's here http://www.investopedia.com/terms/m/m1.asp
-0-

£1267 per person seems a lot of CASH to me. I hardly carry more than £40 in my wallet.

 

[EFLImpudence]

999 people with £40 and one with £1,227,040 under the mattress

 

[chris1982]

Or as a mattress, I suppose!

 

[SirGalahad]

What does the income-expenditure identity have to do with the money? Surely, nothing at all, as it is a macro-level identity that holds all the time, even in barter economies, i.e. in the absence of money.

By the way, you might be interested to hear that the concept of income-expenditure identity, and from which national income accouting follows, goes back to Karl Marx.

I wasn't referencing it specifically to money but to the general understanding of economics.

 

[^woody^]

£10 can be the difference between a hand or a blow job. It has value.

 

[EFLImpudence]

£10 can be the difference between a hand or a blow job. It has value.

Is that all you get for letting her do it?

 

[Brigadier]

£10 can be the difference between a hand or a blow job. It has value.

You ought to up your prices.