How money circulates [a new economics insight, using a bicycle in Britain]

John Stevenson, writing on the web site, explains how money circulates:

“Stuck in the middle of nowhere with a gert big gash in a lightweight tyre? The Bank of England Five Pound Note is an excellent, robust tyre boot that will get you home, and then you can pop out and spend it on well-deserved cake….”

“When the bank of England put its new fiver into circulation on 13 September last year, one of the proudly touted advantages of the new plastic note was that it was stronger and more durable than the previous paper version. The Bank said: ‘Each new polymer note is expected to last at least 2.5 times longer than the current paper notes. This is because polymer is stronger than paper so the notes can better withstand being repeatedly folded into wallets or scrunched up into pockets.’ … “