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What is Money Actually?

  1. profile image51
    princelandposted 7 years ago

    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

  2. profile image51
    princelandposted 7 years ago

    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?

  3. QudsiaP1 profile image60
    QudsiaP1posted 7 years ago

    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

  4. Merlin Fraser profile image78
    Merlin Fraserposted 7 years ago

    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.

  5. Fuller_legend profile image80
    Fuller_legendposted 7 years ago

    ....enjoyable when you have some and a right pain in the back side when you haven't.

  6. soni2006 profile image80
    soni2006posted 7 years ago

    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

  7. profile image0
    ankigarg87posted 7 years ago

    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

  8. profile image45
    moneycontrolposted 7 years ago

    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.

  9. Loveslove profile image58
    Lovesloveposted 7 years ago

    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  !!!

  10. Shahid Bukhari profile image61
    Shahid Bukhariposted 7 years ago

    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