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Digital assets and currencies
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Fiat currencies
Martin Hellwig
Martin Friedrich Hellwig (born 5 April 1949) is a German economist. He has been the director of the Max Planck Institute for Research on Collective Goods from 2004 to 2017. Between 2000 and 2004, he was the head of the German Monopolkommission.
Trading basicsMoney illusion
In economics, money illusion, or price illusion, is a cognitive bias where money is thought of in nominal, rather than real terms. In other words, the face value (nominal value) of money is mistaken for its purchasing power (real value) at a previous point in time. Viewing purchasing power as measured by the nominal value is false, as modern fiat currencies have no intrinsic value and th