Mises Daily
Author:
Ludwig von Mises
Online Publish Date:
[This article is excerpted from chapter 17 of Human Action: The Scholar’s Edition .] As soon as an economic good is demanded not only by those who want to use it for consumption or production, but also by people who want to keep it as a medium of exchange and to give it away at need in a later act of exchange, the demand for it increases. A new