"Sound money is the sine qua non of a prosperous society"

This quote by Arthur Laffer highlights the importance of sound cash in a flourishing society. Sound money is money that is stable in worth and is accepted as a cash. It is a reliable shop of value and a system of account. Without sound cash, a society can not have a stable economy and its people can not have financial security. Sound money is important for economic growth and development, as it permits the efficient allowance of resources and encourages investment. It also helps to minimize inflation and provides a stable environment for companies to run in. Without sound money, a society can not have a prosperous economy and its people can not have economic security.