What is Money?
Jul 31, 2017 ·
9m 36s
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Description
The purpose of money - a medium to make exchange goods and services more efficient than barter. That doesn't change the underlying principle of barter - which is, "I value...
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The purpose of money - a medium to make exchange goods and services more efficient than barter.
That doesn't change the underlying principle of barter - which is, "I value what you have more than what I have, and you value what I have more than what you have, so we swap". In other words, it's about exchange of value. Which leads to the definition, that:
Money is a system for communicating about value.
I would even say that money is a "language" for communicating about value. And value is subjective, please keep that in mind!
Read as blog post:
http://ellehauge.net/what-is-money/
show less
That doesn't change the underlying principle of barter - which is, "I value what you have more than what I have, and you value what I have more than what you have, so we swap". In other words, it's about exchange of value. Which leads to the definition, that:
Money is a system for communicating about value.
I would even say that money is a "language" for communicating about value. And value is subjective, please keep that in mind!
Read as blog post:
http://ellehauge.net/what-is-money/
Information
Author | Jonas Ellehauge |
Organization | Jonas Ellehauge |
Website | - |
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