Question

what do you think adam smith might have meant by a statement,money is a veil

Answer 1

Ans:-Adam smith stated that money is a veil because money act only a medium of exchange and money does not affect the production and services ,the movement of goods and services etc.And also money speed up the manufacturing process by helping the transaction process.Money hide the actual things so it is called a veil.Money is a kind of covering or garments in which a product came to us.Money is a product like other things such as gold,silver,oil etc.Any type of savings or lendings are happen in the form of goods and services but all the transactions are masked behined a financial or monetary veil.