A Meta-Theory of the Demand for Money
and the Theory of Utility
This theory postulates that the demand for any good or service is derived from an underlying need. It is the interaction of this need with the functions of the good or service which creates utility. This theory of utility is nowhere better exemplified than in the demand for money. This is since money, in the economic sense, covers the broadest array of needs and the demand for it has previously only been analysed in terms of its functions. This paper takes the needs for money from humanist psychology, namely the Theory of Motivation by Maslow, and relates these needs to the functions of different classes of money to create an ordered meta-theory of the demand for money.
Documents\Demand for Money.pdf