TED Conversations

chen xin

This conversation is closed.

why money money money ?money !why ?do we really need money ?

how many people are burdened of money . without money can't we live a life full of happiness you know money is not a natural thing ,
i find out that money is one of the most popular words that used on ted..compared to money .i am more about to talk about the nature or enery


Showing single comment thread. View the full conversation.

  • thumb
    Oct 3 2012: @Edward Long, I, too, am a novice re: economics. Perhaps the only difference between us in that regard is that I perceived that most of the world's problems involved money in some form or other. So, about a year ago, I started to look into the questions of "What is money?" and "Where does it come from?" Until then, I accepted the commonly held view of most folk in our society, much of which is reflected in your legitimate response above.
    Part of that world view is that money is based on something material; that money is a commodity. While this is historically the case, my belief is that money has "evolved" (for lack of a better term) into an information system. Take your example cited above. Your labor, the REAL value in the transaction between you and your employer, is given in exchange for a claim on the productivity resulting from that labor. You produced something that didn't exist before, and that has value. Your employer gives you something in exchange. That could be something material, like a bushel of zucchini. But you don't need a bushel of zucchini (who would), so you need something that carries value in the larger society: you need money. Though he or she may give you a check, that wouldn't be necessary in today's world. Your employer could also have done an electronic funds transfer, which is, again, dealing only in information. 150 year ago, you probably would have demanded metal coin: something material. No longer necessary. THERE IS NOTHING MATERIAL BEHIND TODAY'S MONEY! THERE IS ONLY DEBT. True, you can go to the bank and get pictures of dead presidents on a piece of paper, and this fiat currency, by law is legal tender. This piece of paper is, indeed, physical, but it is not "backed" by anything tangible. It only has the perception of value, and your choice to use paper rather than plastic, or swiping your smart phone, is a choice to convenience the outgoing modality of exchange.

Showing single comment thread. View the full conversation.