From a practical point of view, the supply of money is very different from the supply of any other good. An increase in other goods, like shoes or meat, is a welcome event, but an increase in the supply of money dilutes the purchasing power of each money unit.
The doctrine in favor of the balance-of- payments is the worst illusory idea. Governmental interventions that seek to regulate international monetary flows to provide the necessary quantities of money for the economy are superfluous.
Human cooperation means that everybody tries to contribute to the improvement of human conditions. It is in the market that I give something in order that you give something. Exchange leads to higher standards of living. Voluntary exchanges create civilization.
