< HOME  Thursday, November 24, 2005

The True Purpose of Money

MONEY is a uniform standard of exchange that has value only insofar as it is accepted by enough people such that it can effectively serve its purpose--to facilitate exchange of people's labor and the fruits of people's labor.

How many people is enough? A self sustaining economy has enough people. In other words, a community (however small or large) has enough people if collectively it produces everything its individual constituents need to survive and thrive.


At Sunday, December 04, 2005, Anonymous Anonymous said...

People might be interested in this fable on how the Federal Reserve and banks create money out of nothing and then charge us for its use.


At Sunday, December 04, 2005, Blogger qrswave said...

Thanks a lot!

It's in the sidebar!

At Saturday, January 21, 2006, Blogger Obbop said...

Money is also used to allocate resources.

Sadly, in my opinion, those most worthy of their fair share of resources do not obtain them due to their lack of money.

Our society/economic system rewards grown men playing games (pro sports) entertainment figures, those born into the proper families, etc.

The list is lengthy of those worthy yet our economic system et al does not allow money to flow to the truly deserving.

At Saturday, January 21, 2006, Blogger qrswave said...

This is not by chance, but by design.

Our monetary system (and our economy, through so-called intellectual property) is deliberately designed to enrich a privileged few at the expense of an impoverished many.

At Tuesday, October 18, 2011, Blogger Pres said...

So now that well designed technology can perform most of the tasks that people stress over day in day out... Do we still need it? Is the money system out of date / obsolete now?

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