Get cheap website hosting and domains starting from only $3! Amazing support, and 99.9% uptime. Your sure to get a bargain
The Lure of Easy Money |
| Published: August 1, 2007, 2:32 pm |
| Tags: economy |
|
Glenn Frye aside, what exactly is money? I think a fair definition would be that money is the mutually agreed upon means by which we assign, evaluate, store, and exchange value. If accounting is the language of commerce, money dollars and cents is the alphabet we use to construct each word, phrase, sentence and question. From the kid's allowance to the weekly grocery bill, the mortgage payment, our retirement accounts, the week in Jamaica, or the cost of a new Ferrari, everything we can buy or sell, save or spend, we express in monetary terms. Which should help explain why the phrase mutually agreed upon is the key part of any definition of money. For without a mutual agreement, and near universal acceptance of the means of valuation and exchange, even if it is grudging or implicit, there can be no valuation and thus no transaction. And at the same time, with a universal or near universal agreement, anything can serve as a medium of [ Full article ] |
 Blog link
Rating: 0 
|
No Comments...