Money

Paper Summary:

This paper explains what money is and how it works. The paper begins by providing a history of money, from the original barter systems to the cash currency we know and use today. The paper then shows the different uses for money in today's economy and how money has become a complex system of acquisition, investment, and status.

From the Paper:

"The uses of money is of course as versatile as money itself. The most common use is of course as unit of exchange. Money is used to buy every items such as clothing and food. As a unit of account, money is used to measure the value of goods. Using its monetary value, the value of the good is determined compared to the value of all other goods. This is the same system by which the value of money itself in terms of global currency is determined. Finally, money as store of value means to determine the ability of a good to maintain its value over time."

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