Money

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Concept.png Money 
(technology)Rdf-icon.png
Money.jpg
Interest of• Susan Athey
• David Graeber
• Ivo Mosely
• Tracy Twyman

Money is the technology used to represent wealth.

Origins

Money has evolved in many different fashions in different places throughout history. So-caleed "precious" metals such as gold and silver have been used in many places, in part because of its visual appeal, scarcity and relative unreactivity.

Money paper bank notes were derived from gold ownership certificates in the Middle Ages.

Criticism

The modern system of fractional reserve banking is widely criticised as being tool of the rich used to extract tribute from the poor. Recommended alternatives include nationally issued money, as was the case before the creation of central banks such as the Bank of England.

Ezra Pound quote.jpg

[1]

Banning high denomination banknotes

In 2016, India and Venezuela banned their highest denomination banknote. Australia was also reported to be considering the same move.[2]

Money laundering

Full article: Money laundering

Money laundering is the process of obscuring the origin of money, e.g. if it arises from theft or drug trafficking.

 

Examples

Page nameDescription
Bond
Cash

 

Related Quotations

PageQuoteAuthorDate
John Perry Barlow“The economy of the future is based on relationships rather than possessions.”John Perry Barlow
Subsistence“The great enemy of enterprising capital is a self-sustaining life.<a href="#cite_note-1">[1]</a> A family living a self-contained existence on a piece of land is profitable to no one.<a href="#cite_note-2">[2]</a> Once the family is displaced, the land can be put to profit. Dispossessed adults can be ‘gainfully employed’ (whose gain?) and the whole family can be trained up—via advertising and the rest—as consumers. Lastly, in the peculiar perversity of modern economics, the illnesses, depressions, crimes and other discontents of the dependent are of immense profit to the pharmaceutical, insurance, care, security, manufacturing, entertainment and prison industries.”Ivo Mosely2013


References

  1. Rethinking money - How new currencies turn scarcity into prosperity
  2. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11766817