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Money re-defined: Thinking outside the econ box

by psyched
Wed Dec 29th, 2010 at 01:55:32 AM EST

Man invented money. It is not a process of nature like gravity or sunlight. Man conceived of this thing called money to make it easier for folks to trade stuff.

Money is not a physical thing; it is a mental concept, a social contract. It is nothing more than information, often disguised as a coin or a paper bill. And what is the information that it carries? It is that the bearer is entitled to exchange this money for various items or services.

Money has become so embedded in nearly all of human behavior that it has far surpassed its original primitive function as a substitute for physical things in trading.

And yet we think of money in much the same way its primitive inventors did.
Please follow me below the fold to consider the unfortunate implications of this disconnect.

Read more... (141 comments, 1546 words in story)

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