The Memory of Money in the Modern Age

The Memory of Money in the Modern Age Avatar Posted by thursdayb under Finance
From http://www.thursdaybram.com 947 days ago
Made Hot by: LimeWood on January 21, 2014 10:26 pm
Deep down, I’m always surprised when I can give someone a dollar and I get something back. Money — paper or plastic — doesn’t really seem like it should be worth anything. We’re all in on this giant unspoken conspiracy to agree that money will continue working and that we can exchange it.

But while we all do a good job of playing along, I spend a fair amount of time thinking about why the concept of money works. I read an interview with economist Neil Wallace that provides a little insight.



Comments


Written by lyceum
946 days ago

Thursday: What's missing with Bitcoin and other alternative currencies together with today's fiat currency, is an objective standard, e.g gold or silver. Talking about memory, why do "we the people" so short memory? What did Nixon think in the 70's when he destroyed sound money once for all?

I will continue to fight for a second Renaissance! In the meantime, I will be stacking real money, i.e., silver coins.



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