What is Money Actually?
It is an often-asked question, and honestly, I still don’t clearly understand what is money. You see when we had real money; we had no distinction between wealth and money. The notion was that gold/silver, etc., is money. With the advent of paper money, we shifted our notion about money. We said that money is not wealth but a medium of exchange. OK so far so good, but what will happen in future when all transactions will happen electronically and there would be no physical money at all. Your salary will be credited in your account. When you go to shopping, you will make payment through your fi
When you go to shopping, you will make payment through your fingerprints, etc. Only your account will be credited and debited all the times. In that scenario, how will we define money? And more importantly, in such times of distrust when you should not trust even the governments, who is responsible of trading in that money?
Money is anything which can be used for the purposes of trade.
Rocks in prehistoric times.
Barter in ancient time.
Paper in our forefather's time.
Plastic in our time.
Numbers on the screen in our children 's time
If you want a simple answer Money is trust, nothing more nothing less. It is a promissory note of exchange based upon an agreement of value against whatever you wish to buy be it goods or services.
Of course good old fashioned paper money was at the mercy of forgers, still is.... but is plastic... online transfer or as you suggest fingerprint any more secure.
After all I can transfer your fingerprint to any surface and with today’s technology I can't see why forging a fingerprint onto latex would be any more difficult than forging a twenty dollar bill.
As I said Trust.... if the people trust and accept a method of trading then it will work, much in the same when people no longer trust a country's ability to back its currency then it will crash.
....enjoyable when you have some and a right pain in the back side when you haven't.
Definition of Money: According to
Walker, money what money does, but this definition of money cannot throw light
on the definition of money because money does many things; it is just the
functional theory of money.
Robertson has given the... read more
Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context
Money is fake, it has no value. The only thing of value is the receipt, that's really what you are getting in exchange for your money, not the product, that's already paid for.
Everything is already paid for...
Money is only medium of exchange as goods in barter system but barter system became complicated so paper money was introduced.
Now plastic money is in full swing all over the world and a time will come when we will see no money on paper or in plastic but only on our computer, money will be electronic then.
Money is great when you have it but a pain when you havnt ..too much money can cause bother everyone wants to be your friend if you are rich...MONEY IS THE ROUTE OF ALL EVIL ..My dad used to say that ..sometimes I think its true.BUT I would still like to win the lottery !!!
Money ... was originally invented ... as an commonly agreed Medium, by humans ... for day to day Transactions ... Gold, Silver, Paper and Plastics were/are agreed as the Medium, because these are Convenient, compared to Bartering, which was extremely cumbersome.
In Purpose ... Money, was never intended, as the Means, of Manipulating the lesser advantaged into slavery or subjugations.
In its present Political role, now controlled by a few, Money has become an Evil for humankind
by Julie Grimes 7 years ago
Will paper money be replaced and the current banking system changed?Write a hub on the how the banking system in the Western hemisphere might change and how that will effect today's paper money system.
by RodneyBlaec Rainey 5 years ago
Some will say that a system or tool such as money could not be moral or ethical; it’s how the tool or system is used that matters, but does it not facilitate treachery on a disastrous scale? Are laws and regulations enough to control this? Is it all worth it?
by American_Choices 7 years ago
Has anyone used Coinstar at Walmart? Did you see a price before using the machine? I hunted and hunted but to no avail - please help - is it just me - did I miss the price of changing money from coin to currency?
by C E Clark 2 years ago
We should hear the announcement this evening. Former president Andrew Jackson will be relegated to the flip side of the $20, replaced on the front by the image of Harriet Tubman. Additionally, the $5 bill will be changed to depict civil rights era leaders. What do you think about...
by peter565 3 years ago
Why do you think ancient paper money are all A4 size?China started using paper money around the 1st century and was later pass to the west, recently museum in China showed a few left paper money, from over 1000 years ago. like today, paper money only represent huge quantity amount, but ancient...
by pr0phet 7 years ago
Do you think a world without the burden of money is possible?In today's world everything is run by money. We cannot survive without it, we are classed because of it. Those who have all of it, give nothing to those who have none of it. Poverty exists because of it. Money creates limitations and is...
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|