Money is not wealth but a useful unit of account tracking our human transactions.
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Argentines use the dollar as their unit of account for all but the most immediate purposes.
Countries like Poland could use the euro as a unit of account without even joining the union.
As the mechanism for a decentralized, nonpolitical unit of account, the Bitcoin project uniquely facilitates this protection.
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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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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Inflation is a devaluation of the unit of account like the dollar.
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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.
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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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.
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.
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.
So while there are myriad currencies around the globe, the unit of account utilized for trade and investment, not to mention the benchmark money concept against which all other currencies are measured remains the dollar.
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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.
Worse, with consumer prices sticky in concert with commodity prices that are most sensitive to dollar-price movements, the beneficiaries of the money illusion tend to be the hard, unproductive assets of yesterday (think housing, art, rare stamps, and oil) that are least vulnerable to currency weakness, and which in fact do best when the unit of account is devalued.
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.
For you are quite deliberately placing individual numbers (per capita) against unit (household) numbers without taking into account the change in the number of capitas in the unit.
Unit trusts account for about 13% of the British equity market, which means that, to a significant extent, these managers are the market.
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 trades were done through an account at GS Bank in Zurich, a unit of Goldman Sachs Group Inc.
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