Web Project Manager,

This conversation is closed.

What is money?

You may think this is a silly question, but I really would like a discussion on value and worth and how we as people define that.

  • thumb
    Jun 1 2011: It is medium of exchange for commodities & services we get or provide which is widely accepted.
  • thumb
    Jun 1 2011: A social contract
  • thumb
    Jun 1 2011: Money is your reward for your contribution to the commonwealth.
    If you innovate and increase the wellbeing of others, you will be rewarded with a universal currency - money.
    It's a simple reward system, if you do something that others value (invent Facebook; be a founding partner of Microsoft, etc) you make money. it's kinda God's round of applause.
    In the absence of money, it's hard to tell how we'd reward the behaviours we find desirable - hard work, consumer centricity, new ideas, improved productivity, accelerated added value etc.
  • thumb
    Jun 1 2011: Depends on who is producing the money

    When the Federal Reserve prints money and gives it to the U.S they loan the money with a ten percent interest.

    It's interesting, taking the money creates debts, and the only way to pay back the debts is with money. Like an infinite loop of debt through money. So, I would say American money is now based on debt. Money = debt. This is a generally popular way major nations in the world get there money..
  • thumb
    Jun 1 2011: Money is an icon. It is a symbolic representation of value. It can be exchanged for things of real value. It can be saved away for the future purchase of things of real value.

    Like all icons it has the propensity to be worshiped in itself.
  • thumb
    Jun 1 2011: a good article on the issue


    it goes on to austrian economics viewpoints, but the basics are quite neutral and informative
    • thumb
      Jun 1 2011: "the basics are quite neutral and informative"

      Except for it's obvious disapproval of fiat money.

      It is an interesting link though. Thanks Krisztian.