In this paper, I review some selected literature about or related to the monetary neutrality and show that specific aspects of the monetary (non-)neutrality are actually derived from the underlying welfare consideration and thus their validity or desirability depend on the current state and way of organising the economy. On the other hand, the spirit of the monetary neutrality, namely the success of financial innovations should be measured in the success of real business and that market is the default solution and the government only intervenes if necessary, remains unchallenged.