Bridge over ocean
1 March 1995 Financial Analysts Journal Volume 51, Issue 2

The Fifth Horseman

  1. Jack Treynor

Inflation makes money expensive to use, driving transactors back to barter—to finding someone who not only can sell what you want to buy but also wants to buy what you can sell. Because finding that someone us so hard in highly specialized modern economies, they cannot rely on barter.

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