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To: knighthawk

Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment.

Money therefore could be anything of value eg cotton, tobacco, cattle or goats.


12 posted on 05/04/2024 3:37:57 AM PDT by nikos1121
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To: nikos1121

Doesn’t Thomas Sowell define it as a certificate given as a certificate in exchange for the value of labor delivered ?


16 posted on 05/04/2024 4:15:42 AM PDT by sopo
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To: nikos1121

Money is blips on various electronic ledgers.


31 posted on 05/04/2024 5:53:14 AM PDT by bert ( (KE. NP. +12) Hamascide is required in totality)
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To: nikos1121
Eggzackly.

Currency has value because it's accepted as a valid substitute for something sold/bought, traded, or exchanged (including labor).

There's no magic to it.

50 posted on 05/04/2024 12:34:37 PM PDT by RoosterRedux (A person who seeks the truth with a closed mind will never find it. He will only confirm his bias.)
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