Credit is never money. And money is not credit. Or is it?
回应Geoffrey Ingham对作者货币社会定位理论的批评，阐述并辩护该理论如何避免信用货币理论的错误，同时探讨两者调和的可能性。
Abstract In previously putting forward a social positioning theory sponsored conception of the nature of money I argued, amongst other things, that it avoids errors and limitations of the credit theory of money. Geoffrey Ingham (2026) defends the credit theory against my critique, taking issue with the conception that I have advanced in doing so. Here, I respond to Ingham, taking the opportunity to elaborate relevant aspects of the theory I defend in the process. A possible reconciliation is also considered.