Mark Lennihan, Associated Press
What, exactly, is money?
“The best way to answer this question isn’t to say what money is,” said Derek Thompson, a senior business editor at The Atlantic, in a new video called What is money?
Instead, Thompson argues, we should focus on what money isn't.
The video, which is part of The Atlantic’s ongoing "Economics in Plain English" video series, explores the attributes of money, primarily what makes the average consumer or retailer trust its value.
"Money is kind of like a belief system,” Thompson says in the video, “a kind of shared religion between the buyer and seller that says, ‘I believe that this thing has value today, will have value tomorrow and that I can use it in exchange for whatever I want in the future.”
“In the end,” Thompson concludes, “the thing that makes money money is really nothing more than a little bit of faith.”
- 14 frivolous lawsuits against Disney, James...
- Employers and job seekers might as well be...
- Balancing act: What is your ROI for seeking...
- Dave Ramsey says: Keep expectations clear...
- The poorest of the poor in many Third World...
- Americans still prefer male bosses
- UTA seeks to hire bus drivers, other workers
- 5 reasons you'll blow your holiday budget again
- Americans still prefer male bosses 7
- Studio C teams up with popular indie... 6
- Pay raises are more rare despite strong... 3
- Facebook is now helping its female... 3
- Employers and job seekers might as well... 2
- Egg freezing is now a perk of the... 2
- The poorest of the poor in many Third... 1
- Utah jobless rate stays steady at 3.5... 1