Every now and then forum members raise questions about what determines value in money and in coins in particular. This is a nice article that explores that.
<< <i>Every now and then forum members raise questions about what determines value in money and in coins in particular. This is a nice article that explores that.
Thanks for the link which is fairly interesting and even more for the clear title since I rarely follow links; especially if I don't know exactly what they are.
I believe the author too greatly emphasizes the importance of trust in the issuer. People don't care who made the money so long as they expect others to accept it. Before currency no one demanded the king's stamp on a wagon of grain or a bar of gold yet they were money. When Zaire allowed hyperinflation the people simply began refusing the new notes with more zeros and kept using the old ones.
Anything that people trust is money and its value can derive from anything.
Comments
<< <i>But the curious thing about money is how something so real can at the same time be so illusory. >>
..bySimon Critchley
Money = Credit
Credit is isusionary
Money is illisory....Wow it's simple now...
<< <i>Every now and then forum members raise questions about what determines value in money and in coins in particular.
This is a nice article that explores that.
Link >>
Thanks for the link which is fairly interesting and even more
for the clear title since I rarely follow links; especially if I don't
know exactly what they are.
I believe the author too greatly emphasizes the importance of
trust in the issuer. People don't care who made the money so
long as they expect others to accept it. Before currency no one
demanded the king's stamp on a wagon of grain or a bar of gold
yet they were money. When Zaire allowed hyperinflation the people
simply began refusing the new notes with more zeros and kept using
the old ones.
Anything that people trust is money and its value can derive from
anything.
If you have to trust anyone it should be everyone one else. I have to trust that everyone will agree that my money has value.
If somone gives me a piece of paper for a day's work, I need to trust that somone else will take that paper and give me dinner for it.
<< <i>
<< <i>But the curious thing about money is how something so real can at the same time be so illusory. >>
..bySimon Critchley
Money = Credit
Credit is isusionary
Money is illisory....Wow it's simple now...
isusionary?
illisory?
What?
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<< <i>
<< <i>
<< <i>But the curious thing about money is how something so real can at the same time be so illusory. >>
..bySimon Critchley
Money = Credit
Credit is isusionary
Money is illisory....Wow it's simple now...
isusionary?
illisory?
What?
OK...it's ILLUSIONARY
Geez....shoot me already....on the darn spelling .....
My old economics professor used to say "All money is debt."