Money of account and Money proper.

There are different types of  money which is being used in money market. Money -of -account and money proper are one of them.  One of the famous economist ,the Keynes  distinguished between money of account and money proper.  According  to. him ,’ money  -of-account is that  in  which  Debts and Prices and  General  Purchasing Power  are  expressed.” Money- proper, on the other hand , is the  actual money in  which  contracts or debts  are  settled ,  such  as the Indian Rupee, the British Pound, the American Dollar , the French  Franc , the Italian Lira, etc. Usually. there is   no difference  between  money -of-account  and  money-proper. However , if the  accounts are  kept  in  some other  currency ,the  money -of- account  differs  from  money proper.    This  happened  in  Germany  after  the  First  world war   when  the  money – of -account  was  the  American Dollar  and  the money – proper was the  Mark.————————————————–The End—————————————————.

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