Countries like Poland could use the euro as a unit of account without even joining the union.
They are not using it as a medium of exchange, a unit of account, or a safe store of nominal value.
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Deflation is harmful for conventional currencies because, in economist jargon, Bitcoins are a unit of account as well as a medium of exchange.
The currency itself is meandering along, the way it is supposed to, without any particular issues, serving as a unit of account and means of payment.
By creating money out of thin air, government debases the currency, stealing from savers and depriving the economy of a stable unit of account.
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He talks up the importance of a strong unit of account, but refuses to engage in any actions that would signal to the markets he's serious.
So while growth in the Fed's monetary base is overrated when it comes to currency values and inflation (base growth was the same in the '70s as it was in the '80s), the failure of the Nixon Treasury to clearly state its commitment to the Bretton Woods gold standard led to a falling unit of account.
Money is not wealth but a useful unit of account tracking our human transactions.
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As much as politicians and many economists embrace a floating unit of account, its impact on the economy is always negative.
As both a payments platform and a nonpolitical unit of account, Bitcoin has already seen astonishing growth in just over three years.
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Rate increases in 1987 did nothing to shore up the dollar's value, but did make the economic outlook cloudier alongside a falling unit of account that the Treasury countenanced.
As the mechanism for a decentralized, nonpolitical unit of account, the Bitcoin project uniquely facilitates this protection.
Inflation is a devaluation of the unit of account like the dollar.
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The CNN Electoral Map is based on analysis from the CNN Political Unit and takes into account a number of factors, including polling, state voting trends, ad spending patterns, candidate visits and guidance from the campaigns, parties and political strategists.
The costs for planned home and midwifery unit births take account of any hospital care a woman may receive if she is transferred into hospital during labour or after the birth.
The trades were done through an account at GS Bank in Zurich, a unit of Goldman Sachs Group Inc.
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Unit trusts account for about 13% of the British equity market, which means that, to a significant extent, these managers are the market.
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