A. H. Quiggin: Money to Economist
on Sunday, September 24, 2017A.H. Quiggin Money Quote saying ask a finance scholar what is a dollar and hear his written chapter in answer. A.H. Quiggin said:
“Everyone, except an economist, knows what ‘money’ means, and even an economist can describe it in the course of a chapter or so” — A.H. Quiggin
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In this quote, A.H. Quiggin is commenting on how economists and non-economists view the concept of money. He states that everyone except economists has an intuitive understanding of what money is. However, Quiggin notes that even economists, who may overanalyze the definition, can describe what money means in just a chapter or so of writing.
This suggests that while money is a simple everyday concept for most, economists have a tendency to make the definition and meaning of money more complex and abstract than it needs to be. The quote implies economists do understand money but in a more academic and theoretical way, whereas others have a more straightforward practical grasp of the term.