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Topic: Money illusion

	Money illusion - Encyclopedia, History, Geography and Biography
		The existence of money illusion is disputed by monetary economists who contend that people act rationally (ie think in real prices) with regard to their wealth.
		Money illusion has been proposed as one reason why nominal prices are slow to change even where inflation has caused real prices or costs to rise.
		Some have suggested that money illusion implies that the negative relationship between inflation and unemployment described by the Phillips curve might hold, contrary to recent macroeconomic theories.
	www.arikah.net /encyclopedia/Money_illusion (441 words)

	Money illusion
		The term was coined by Keynes in the early 20th century and Irving Fisher wrote an important book on the subject, Money Illusion, in 1929.
		Experiments have shown that people generally percieve a 2% cut in nominal income as unfair, but see a 2% rise in nominal income where there is 4% inflation as fair, despite them being rational equivalents.
		Some have suggested that money illusion implies that the negative relationship between inflation and unemployment described by the Phillips curve curve might hold, contrary to recent macroeconomic theories.
	www.xasa.com /wiki/en/wikipedia/m/mo/money_illusion.html (396 words)

	Modern Alchemy The Money Illusion Part 2 by Dene McGriff
		Money was, above all, a political question – a matter of deliberate choices made by the state.” (William Greider, Secrets of the Temple, pp.
		The money created for the bonds is spent by the government, whereas the money created on top of those bonds is the source of all the bank loans made to the nation’s businesses and individuals.
		Money is coming into the U.S. economy like never before as other countries buy our debt and it has to go somewhere so it goes into assets (the stock market, real estate, etc.) and results in bubbles.
	www.the-tribulation-network.com /denemcgriff/the_money_illusion.htm (3253 words)

	Matter Money (Site not responding. Last check: 2007-10-19)
		REVISED VERSION Money illusion means that people behave differently when the same objective situation is represented in nominal terms rather than in real terms.
		Money illusion means that people behave differently when the same objective situation is represented in nominal or in real terms.
		Money illusion means that people behave differently when the same objective situation is represented in nominal terms rather than in real terms.
	www.instantworkathomeprofits.com /makemoneyonline/matter-money.html (333 words)

	Illusion Audio \| about us
		Illusion Audio Systems represents a solutions-based company; we have a combined 30 years audio industry experience and we continue to gain knowledge.
		Illusion Audio represents a line of more than 500 individual products including all the essential tools of the trade, a comprehensive array of devices for every aspect of whole-house distribution and integration of audio/video systems – speakers, receivers, amplifiers, rack mounting solutions, structured cable solutions, audio controls, and accessories.
		Illusion Audio partners or dealers are recognized as some of the best custom installers – they can make sophisticated audio/video systems easy to use and practically invisible.
	www.illusionaudio.com.au /about_us/index.html (283 words)

	ANTI-MONEY (Site not responding. Last check: 2007-10-19)
		The belief in this illusion that money is an absolute, without question, is so incredibly instilled into our minds, we can't even begin to comprehend life without it.
		Money and all this word entails is disguised as an omnipotent natural, and necessary element to our planet.
		The phrase; "Money doesn't grow on trees", angers me because it insinuates that money is more important than the leaves that create the very oxygen we breathe.
	www.geocities.com /mzaneg/money.html (1819 words)

	Money and the illusion of wealth
		Money doesn't discriminate between ethical and immoral activities, and many people don't care about the difference; the same ones setting the prices in most cases.
		Clearly, money alone was a false measure of wealth, and long after the recovery things remain unrealistic.
		Governments waste money daily, and make-work jobs are propped up because employees don't want to lose their safety net.
	enough_already.tripod.com /money.htm (1118 words)

	SSRN-Equilibrium Asset Prices and Investor Behavior in the Presence of Money Illusion by Suleyman Basak, Hongjun Yan (Site not responding. Last check: 2007-10-19)
		Money illusion is modeled as an investor's partial overlooking the impact of inflation on the purchasing power of currency in his intertemporal decision making.
		The impact of money illusion on security prices and their dynamics is demonstrated to be considerable even though its utility cost on investors is small in typical environments.
		A general-equilibrium analysis in the presence of money illusion generates implications that are consistent with several empirical regularities.
	papers.ssrn.com /sol3/papers.cfm?abstract_id=623561 (360 words)

	~~The Money Illusion~~ - Assata Speaks - Hands Off Assata - Let's Get Free - Revolutionary - Pan-Africanism - Black On ...
		Money gives power to a secret self, enabling it to pursue its own self-gratification, the ability to acquire things that satisfy the imagination, to fulfill elaborate fantasies of selfhood, a visible statement of who-I-am, and or, who-we-are.
		The money illusion is now refined to a new level of abstract faith, visible only if we consciously pause to consider, how the money process has evolved.
		The money illusion was transferred to a new object with the rise of demand deposits, better known as checking accounts.
	www.assatashakur.org /forum/showthread.php?t=4130 (1116 words)

	Maccabee Media (Site not responding. Last check: 2007-10-19)
		This shared illusion is as old as stone coins and wampum, a power universally conferred by every society in history on any object that was ever regarded as money; seashells, dogs’ teeth, tobacco, whiskey, cattle, silver and gold, even paper, even numbers in an account book.
		Over the centuries, the evolution of money was a long and halting progression in which human societies hesitantly transferred their money faith from one object to another, at each step moving farther away from real value and closer to pure abstraction.
		The historic connection between money and religion was established in one culture after another: the temple was the first mint, where coins were sanctified by priest-kings and therefore accepted as trustworthy by members of the tribe.
	www.maccabee.net /site/thinktank.php (2665 words)

	MSN Encarta - Search Results - money illusion
		Money, any medium of exchange that is widely accepted in payment for goods and services and in settlement of debts.
		Gold Standard, in economics, monetary system wherein all forms of legal tender may be converted, on demand, into fixed quantities of fine gold, as...
		Mint (coinage) (Latin moneta, âmintâ or âmoneyâ; derived from Moneta, a surname of the goddess Juno, whose temple at Rome was used for coining money),...
	ca.encarta.msn.com /money_illusion.html (141 words)

	Seek To Know
		The difference between the bond and the bill is the bond lets money brokers collect twice the amount of the bond and an additional 20%, whereas the currency pays nobody but those who contribute directly in some useful way.
		Money is created when banks lend it into existence When a bank provides you with a $100,000 mortgage, it creates only the principal, which you spend and which then circulates in the economy.
		Without money, civilisation could not have had a beginning, and with a diminishing supply, it must languish and unless relieved, finally perish.
	www.seek2know.net /money.html (6336 words)

	The Quarterly Journal of Economics - Money Illusion - The MIT Press
		The term "money illusion" refers to a tendency to think in terms of nominal rather than real monetary values.
		Money illusion has significant implications for economic theory, yet it implies a lack of rationality that is alien to economists.
		We propose that people often think about economic transactions in both nominal and real terms, and that money illusion arises from an interaction between these representations, which results in a bias toward a nominal evaluation.
	mitpress.mit.edu /catalog/item/default.asp?tid=404&ttype=6 (111 words)

	Miller Risk Advisors - Money Illusion Revisited
		This paper examines a corollary of their result: in the presence of “money illusion” the correlation between stock and bond returns will be abnormally high during periods of high inflation.
		The form that the money illusion took was straightforward: an upward movement in inflation would generate a one-time permanent reduction in nominal accounting net income without changing the real value of the firm, and this illusory drop in earnings would trigger a decline in equity values.
		However, starting with the insight that money illusion would affect not only the value of equity but also the correlation of its returns with debt returns we found empirical evidence to support the expected linkage between inflation and stock/bond correlations.
	home.earthlink.net /~millerrisk/Papers/MI.htm (4396 words)

	Life, Money & Illusion
		Life, Money and Illusion tracks how economic patterns change as the communities they serve grow from extended families, through local populations and nations, to global civilization.
		Without money it would be very difficult for any but small communities to work together in mutual provision.
		Life, Money and Illusion makes the case that the fundamental shift in our circumstances is creating new problems, ones that cannot be solved without a fundamental change in how we manage mutual provision.
	www.flora.org /sustain/LMI/lmisummary.html (923 words)

	The illusion of money and some hard facts too (Site not responding. Last check: 2007-10-19)
		That money, the $80, is a loan from you to the government.
		Simply this: the government, whose appetite for money was whetted to a fever frenzy by its desire for imperial expansion, tossed all common sense and decency to the winds.
		The good part of it was that it generated "money" to finance the growth of the British Empire, upon which the "sun never set" at one point.
	www.blogontheweb.com /sangtalkzone/archive/2005/01/27/40567.aspx (10671 words)

	CiteULike: Money Illusion (Site not responding. Last check: 2007-10-19)
		The term "money illusion" refers to a tendency to think in terms of nominal rather than real monetary values.
		Money illusion has significant implications for economic theory, yet it implies a lack of rationality that is alien to economists.
		We propose that people often think about economic transactions in both nominal and real terms, and that money illusion arises from an interaction between these representations, which results in a bias toward a nominal evaluation.
	www.citeulike.org /user/harperf/article/568194 (227 words)

	Islam Question and Answer - Taking a card and giving money to its owner and five other people, in a pyramid scheme
		No one gains money from this scheme except the ones who set it up and a small number of those who join it; most of them come out with nothing but sin and regret.
		This idea is based on a principle that is akin to gambling, whereby each person puts his money on the table then the one who is the most eloquent and persuasive takes it all.
		The government described these schemes as a program in which a person pays a sum of money to join the group, in return for attending lectures or getting some educational material on this subject, then he is required to try to persuade a certain number of people to do the same.
	www.islam-qa.com /index.php?ref=42909&ln=eng (1247 words)

	Money Won't Make You Happy - Healthy Living: Living a healthy lifestyle for disease prevention on MedicineNet.com
		They find that people are likely to overrate the joy-bringing effect of whatever they're thinking about at the time, whether it's money or the number of dates they had last week.
		Focusing on the illusion that money makes you happy may have an unexpected side effect.
		"This focusing illusion may lead to a misallocation of time, from accepting lengthy commutes (which are among the worst moments of the day) to sacrificing time spent socializing (which are among the best moments of the day)," Kahneman and colleagues observe.
	www.medicinenet.com /guide.asp?s=rss&k=DailyHealth&a=62776 (560 words)

	Safe Haven \| Interest Rates Stay "Real Easy"
		Money illusion occurs when you give the consumer more money to spend, when it actually buys less.
		In this Money Illusion world, institutions such as banks, Wall Street broker dealers and Hedge Funds, are stepping up and borrowing and will increase their holdings in commodities and precious metals that do well in inflation.
		Since the Federal Reserve is in the business of providing all the money anyone wants at the interest rate they fix, there is no actual limit to how much money might be borrowed or how high the resulting money growth might be.
	www.safehaven.com /article-1721.htm (971 words)

	Financial Review: Inflation effect a money illusion (Site not responding. Last check: 2007-10-19)
		Even at times when inflation is heading back up, for example, they expect earnings growth to continue at the slower pace that was established when inflation was low.
		The failure to see stocks as a good inflation hedge is part of "money illusion" that occurs when investors confuse nominal, or reported, prices with real, or inflation-adjusted, ones.
		Another good illustration of money illusion came in the late 1990s.
	afr.com /cgi-bin/newtextversions.pl?pagetype=printer&path=/articles/2004/06/07/1086460232304.html (560 words)

	Inflationism \| The Foundation for Economic Education: The Freeman, Ideas on Liberty
		It rests on the "money illusion," a widespread confusion between income as a flow of money and income as a flow of goods and services—a confusion between "money" and wealth.
		That wealth consists in money, or in gold or silver, is a popular notion which naturally arises from the double function of money, as the instrument of commerce, and as the measure of value.
		To grow rich is to get money; and wealth and money, in short, are, in common language, considered as in every respect synonymous.
	www.fee.org /publications/the-freeman/article.asp?aid=5853 (2689 words)

	Comments on: The economy since 9/11 (Site not responding. Last check: 2007-10-19)
		This is NOT an argument against increased security measures — it’s simply an acknowledgement that they have a real cost that is not reflected in macroeconomic data.
		The Federal Reserve gunned the money supply at an emergency fed funds rate of 1%.
		All it did was make money so cheap that America went on debt binge, creating one of the largest housing bubbles in economic history, coining the phrase of using your house as an ATM.
	www.stltoday.com /blogs/business-mound-city-money/2006/09/the-economy-since-911/feed (602 words)

	Company Focus -- Optical Illusion -- or Opportunity? - MSN Money (Site not responding. Last check: 2007-10-19)
		It turns out that back in 1992, the two upstarts were at a stalemate due to the fact that both parties held patents needed to bring this new excimer technology to the marketplace.
		Neither company could move forward and raise money to get their respective projects moving.
		Money managers Chancellor LGT Asset Management and Merrill Lynch & Co. hold 12.0% and 13.4% respectively.
	moneycentral.msn.com /articles/invest/company/611.asp (1711 words)

	IZA - Discussion Papers (Site not responding. Last check: 2007-10-19)
		Money illusion means that people behave differently when the same objective situation is represented in nominal terms rather than in real terms.
		In particular, if the payoff information is presented to subjects in nominal terms, price expectations and actual price choices after a fully anticipated negative nominal shock are much stickier than when payoff information is presented in real terms.
		In addition we show that money illusion causes asymmetric effects of negative and positive nominal shocks.
	www.iza.org /de/webcontent/publications/papers/viewAbstract?dp_id=174 (137 words)

	The Money Scam - Money doesn't actually exist (Site not responding. Last check: 2007-10-19)
		You work all your life for money which doesn't actually exist...this is the Illusion that is Money.
		So, that means that everyone is entitled to have their money given to them by their bank, in gold or coinage.
		The first recorded use of paper money was in the 7th century in China.
	www.livingstonemusic.net /moneyscam.htm (993 words)

	Money: An Illusion, A Shadow Of Something Else (Site not responding. Last check: 2007-10-19)
		Money is merely legal tender, a form of exchange.
		Looking at the shadow, the physical money, as you will soon see, is most of the time very unwise and unhealthy for you and your finances.
		Know this however: Money represents an aspect of a person’s internal value, but that does not mean that it represents a person’s entire internal value.
	www.ebook2001.com /pub/may02r.html (1720 words)

	On bulls, bears, and chickens. - By Michael Kinsley - Slate Magazine
		Nevertheless, your money would have done better for the past five years if you had hidden it behind the dresser.
		Economists talk patronizingly about the "money illusion," meaning the way that feeling richer or poorer can affect how people behave, and therefore affect the real economy.
		But the money illusion is backed by the full faith and credit of the United States.
	www.slate.com /id/2068498 (1055 words)

	Life, Money & Illusion (Site not responding. Last check: 2007-10-19)
		This brief outline of Life, Money and Illusion identifies the metaphorical elephant at the center of this discussion.
		Money believes well-being is maintained through the perpetual expansion of commercial activities.
		On the other hand, money says there are few resources available for education, health care, community development or the maintenance and restoration of ecosystem health.
	www.cyberus.ca /choose.sustain/LMI.html (734 words)

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