Re: Equilibrium, rest and nonergodic systems.

["Alan G. Isaac" <AISAAC@xxxxxxxxxxxx>]

Why is this not a confusion of the roles of money and wealth.
Rephrasing, to where have portfolio considerations flown?
--Alan G. Isaac

On Tue, 1 Nov 1994 19:02:55 -0700 <BMOORE@xxxxxxxxxxxxxxxxxx> said:
>Dear Paul
>    My point that a general equilibrium is impossible in a credit
>money economy is simply that as long as money is the good that is
>generally accepted in exchange for all other goods, no agent can be
>in monetary equilibrium. She will always be willing to accept
>additional money balances, ceteris paribus. She will never say, "No
>thank you, I've got all the money I want, unless you reduce its
>price."  In this sense money is unique: an excess supply of money
>cannot occur.