INVOLUNTARY EXCHANGE: The process of being forced to unwillingly trade one item for another. The key term here is on "unwillingly." For all practical purposes, involuntary exchanges is essentially another term for government taxes, in which people are forced to give part of their income to government in "exchange" for government services. Involuntary taxes should be contrasted with the "voluntary" exchanges that are fundamental to market transactions.

     See also | government | taxes | government functions | regulation | public choice | market | voluntary exchange | mixed economy |

INVOLUNTARY EXCHANGE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: December 9, 2019].

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Any of three basic measures of money, and related liquid assets, for the economy that are tracked and reported by the Federal Reserve System. They are designated M1, M2, and M3, with higher numbers containing a wider variety of assets. The smallest, M1, is used as THE medium of exchange in the economy. However, M2 provides savings that are easily converted to M1 and is considered by many as the best measure of liquid, spendable assets.

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