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There is no monetary market for these broadly distributed public goods produced by mass transportation.
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For example, the monetary market rate was 4.87% in 2010 and 3.98% in 2012.
March contracts for the euro on the International Monetary Market in Chicago were priced at the end of last week at $1.2925 and 83.785 pence.
This perspective sheds light on the well-established observation that people sometimes expend more effort in exchange for no payment (a social market) than they expend when they receive payment (a monetary market).
For example, the Society for Worldwide Interbank Financial Telecommunications (SWIFT) is central to the global payment system, such as, commercial banks for credit markets and central banks for monetary markets.
In monetary markets, people pay money for goods and services: imagine you own a restaurant, and your customers pay you for their meals.
Subsidized credit and distorted monetary markets will vanish under an Asian Monetary Union.
They conclude that, "mixed markets (markets that include aspects of both social and monetary markets) more closely resemble monetary than social markets".
Even the German court admits that the ECB can buy bonds on the open market for monetary policy purposes.
A thousand years later Isocrates boasted of the thriving trade of Classical Greece, while a rich and varied network of commodity exchange and an established market for monetary capital were prominent features of Classical Rome.
Share prices indeed stabilised and Beijing got a pat on the back from the supposedly free-market International Monetary Fund for preventing a "disorderly" market.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com