Money

Paper Summary:

Discusses purposes money serves in today's economies. Critical task of governments and central banks in controlling the money supply. Money as the common medium of exchange; the tangible way to hold assets. Monetary policy. Growth of "virtual" money (cashless transactions). Example of CyberCoast, a fictional Northwest nation with a cashless system.

From the Paper:

"Controlling the money supply of a nation is a critical task that falls most often to governments and central banks. If there is too much money in circulation, inflation results; too little money, and the economy contracts. The goal is to strike a balance so that there is enough money to stimulate the economy, but not so much that the economy overheats. In the United States, money supply is controlled through fiscal (tax) policy and monetary policy. The government controls the fiscal policy, while the monetary policy is controlled indirectly by the government through the central bank in most modern economies.


Money serves several different purposes in today's economies. First and foremost, it is the common medium of..."

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