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What is money?
Posted: Sun Feb 14, 2016 9:09 am
by Libertarian666
Let's start with a really simple question, as is often necessary when dealing with complex topics.
What is the definition of the "US Dollar"?
Re: What is money?
Posted: Sun Feb 14, 2016 10:02 am
by Pointedstick
Money is a social construct with many uses: a medium of exchange, a unit of account, and a store of value. Various forms of money have been better or worse for some of these uses over time. For example our current mostly electronic fiat money is better than historically average as a medium of exchange due to its liquidity and how easy it is to make purchases using instruments such as debit cards and online shopping, but it's worse than average as a store of value due to an inflationary monetary system and a zero interest rate on cash deposits. You win some, you lose some.
Re: What is money?
Posted: Sat Mar 26, 2016 4:09 am
by MachineGhost
Money is always a medium of exchange and nothing else. Otherwise there would be no need to invest.