Title: A suggestion for further simplifying the theory of money
Description: "Our suggestion consists of three postulates: assets are valued only in terms of their payoffs, perfect foresight, and complete and costless markets under laissez-faire.  Together these postulates imply that the crucial anomaly, rate-of-return dominance of "money", "is to be explained by legal restrictions"--Federal Reserve Bank of Minneapolis web site.
Subjects: Money, Mathematical models