Monday With regard to the quantification of a good’s value, with what is it measured? How is the subjective value of a good expressed? Well, with money of course; one of the jobs of money in the marketplace is to measure value. For most of the 20th century and at the beginning of the 21st century, the marketplace has used fiat debt notes, otherwise known … [Read more...]
Defining Money Correctly
Friday Here is an article purporting to explain what money is. It proceeds to define money by describing one of the actions that it does. Money can be used for many different things – exchanging for goods, investing, gambling, tipping, hoarding etc. But defining something by what it does can be misleading, because it reverses cause and effect. Something is what it is … [Read more...]