Economism's Most Useless Concept
by Lee Adler, Wall Street Examiner
Here’s Why Everyone is Confused About Economism’s Most Useless Concept
The concept of Velocity (V) of money confuses people. It does so because “Velocity” is a misnomer. Velocity is the speed of an object in motion. Economists pretend that V represents the speed of transactions in the economy. It’s absolute horseshit. V of M has nothing to do with the speed of transactions. Nothing. Zero. Zilch. Nada.
Source: http://econintersect.com/pages/opinion/opinion.php?post=202104050203
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