The slowly declining marginal utility of holding money means demand for money at the margin will not vary significantly. Combining this with an almost constant supply results in a relatively stable market value for money in terms of goods and services. This means money is unlikely to appreciate or depreciate significantly, making it a lousy long‐term investment but a good store of value. An investment would be expected to have a significant appreciation potential, but also carry a significant risk of loss or depreciation. Investment is a reward for taking risk, but sound money, having the
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