what's the function of money

what's the function of money

Created by Mike O Ellis on Mar 24, 2014

8 votes

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to buy

to pay debt

for lending

to create business

to help the needing

for loan

to pay bills

for registration of event

for revenue

to invest

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“Right click Left click Yay!”

Level 7

Since: Dec 10

Nehwon

#1 Mar 25, 2014
To simplify bartering.

If I raised chickens, how many chickens would be a fair trade for some flour or a bucket or a computer? 1? 3.5? 1472.4756?

Without money as a measure of my chickens, there would be a need for a New York Chicken Exchange.

Substitute any product you create for chicken and you can see how complicated things will get in a hurry.

Money solves that critical problem but introduces others.

“HEY! Who voted for Jared”

Since: Jun 08

Kushner? No One? Thot so.....

#2 Mar 25, 2014
....for politicians to fight (endlessly) over.........

Level 8

Since: Nov 08

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#3 Mar 25, 2014
ummmm...a 20 makes wonderful straw 8o

“Hey Look Ma!”

Since: Mar 14

I'm registered

#4 Mar 25, 2014
means of exchange

unit of accountancy

store of wealth

According to my Econ 201 text

“HEY! Who voted for Jared”

Since: Jun 08

Kushner? No One? Thot so.....

#5 Mar 25, 2014
....h'lo, dave.....i remember when a 20 took care of the recreation for about a week..........turn that up, will you......?

Level 8

Since: Nov 08

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#6 Mar 25, 2014
Old Sam wrote:
....h'lo, dave.....i remember when a 20 took care of the recreation for about a week..........turn that up, will you......?
Hahahahaha...hey Old Sam, good to see you!!!

“HEY! Who voted for Jared”

Since: Jun 08

Kushner? No One? Thot so.....

#7 Mar 25, 2014
....you too, david....how's things on the left coast....?.....i'm waitin' on my tax refund here........i intend to do about everything that is on that list up there with it.......
joker

Owensboro, KY

#8 Mar 25, 2014
greymouser wrote:
To simplify bartering.
If I raised chickens, how many chickens would be a fair trade for some flour or a bucket or a computer? 1? 3.5? 1472.4756?
Without money as a measure of my chickens, there would be a need for a New York Chicken Exchange.
Substitute any product you create for chicken and you can see how complicated things will get in a hurry.
Money solves that critical problem but introduces others.
Uhhhh you buy shit with it?

“Right click Left click Yay!”

Level 7

Since: Dec 10

Nehwon

#9 Mar 25, 2014
joker wrote:
<quoted text>
Uhhhh you buy shit with it?
You've given me a new perspective here.

My employer pays me with money.

According to you, what did my employer buy?

“Towards Spring”

Level 8

Since: Dec 06

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#10 Mar 26, 2014
Strange thread:

Requesting' what's the function of money' is like
asking ..


'Why do we eat'
and all the choices listed above state
the obvious.

BTW

Is the POPE a catholic:)

Since: Feb 09

Location hidden

#11 Mar 26, 2014
u forgot to put "all of the above" on the list.

can u imagine if we didn't have it, nothing would ever get done,
money motivates us.
its said, money is the root of all evil but it can lead the way to heaven too. lol

Hypocrisy abounds

Salt Lake City, UT

#12 Mar 26, 2014
Status. It's the only reason money exists. Without it, you couldn't be better than the next guy. In a barter system, all would be equal. You would either exchange goods for goods or goods for services. Money requires you to be beholding to the one with the most money. He has what you need to survive. It's what's called "voluntary slavery". You become a slave to those that have money or you cease to exist.

“Smokin' Hot'n'Feelin' Groovy”

Level 9

Since: Apr 12

Here, There, and Everywhere,..

#13 Mar 26, 2014
Money Generates Greed, Corruption, Murder, Sin,...

Since: Apr 13

Scappoose, Oregon USA

#14 Mar 26, 2014
The interesting thing about money though is, it only has value because we all collectively agree that it does. I mean especially paper money, it's only "worth" so much whatever number is printed on it because we all agree it does. Otherwise it's just a piece of paper. The same but to a lesser degree are coins and precious metals, Even gold is only worth something because we all think gold is valuable. That's why the concept of inflation has always intrigued me, my dad says that when he started driving a $20 bill would fill his gas tank.

“WHERE BORN AN A-HOLE OR DID ”

Since: Mar 14

YOU WORK AT IT YOUR WHOLE LIFE

#15 Mar 26, 2014
The point of money is pure and simple. Government power.. Money is only in existence to collect a piece of pie from trading of commodities by those who have no involvement in the actual production or trade of goods. That is why governments throughout history have created monetary systems and discouraged or all out banned barter systems.

“WHERE BORN AN A-HOLE OR DID ”

Since: Mar 14

YOU WORK AT IT YOUR WHOLE LIFE

#16 Mar 26, 2014
Jenji wrote:
The interesting thing about money though is, it only has value because we all collectively agree that it does. I mean especially paper money, it's only "worth" so much whatever number is printed on it because we all agree it does. Otherwise it's just a piece of paper. The same but to a lesser degree are coins and precious metals, Even gold is only worth something because we all think gold is valuable. That's why the concept of inflation has always intrigued me, my dad says that when he started driving a $20 bill would fill his gas tank.
Well the thing about precious metals ( more and more in this day and age) is the fac that they are rare, finite, and they have real world uses other than trade. These things lead to their desirability in the first place and this is what gives them their value. Silver, Palladium, and Rhodium are three examples of this. Their value has been increasing because of there uses in manufacturing. The rarer something is and the more useful it is, the more true value they have.

“Right click Left click Yay!”

Level 7

Since: Dec 10

Nehwon

#17 Mar 27, 2014
Jenji wrote:
The interesting thing about money though is, it only has value because we all collectively agree that it does. I mean especially paper money, it's only "worth" so much whatever number is printed on it because we all agree it does. Otherwise it's just a piece of paper. The same but to a lesser degree are coins and precious metals, Even gold is only worth something because we all think gold is valuable. That's why the concept of inflation has always intrigued me, my dad says that when he started driving a $20 bill would fill his gas tank.
You raise a lot of good questions with this post.

At the basic level, any US Dollar does two things I can think of:

It's a yardstick to measure the worth of what I produce vs. you buying my product. and vice versa.

The US government (and states) will accept my dollars to pay for services they provide.

For example, my taxes go to enforce that when I go buy a gallon of gas, I get a gallon of gas.

The problem of the gold standard (and bitcoins) is that there is a limited supply with an increasing population.

The amount of money needs to increase with the increase in the population to keep the trade flowing.

And a small bit of inflation gives you an incentive to use your money to invest in promising ventures and rewarded at the least by countering inflation.

Burying your money in a tin can in the backyard doesn't do squat for the nation. Nor does secreting your money in a Cayman Islands bank account.

Spirit67_
Level 5

Since: May 13

Location hidden

#18 Mar 28, 2014
Very Lil!

“WHERE BORN AN A-HOLE OR DID ”

Since: Mar 14

YOU WORK AT IT YOUR WHOLE LIFE

#19 Mar 28, 2014
greymouser wrote:
<quoted text>
You raise a lot of good questions with this post.
At the basic level, any US Dollar does two things I can think of:
It's a yardstick to measure the worth of what I produce vs. you buying my product. and vice versa.
The US government (and states) will accept my dollars to pay for services they provide.
For example, my taxes go to enforce that when I go buy a gallon of gas, I get a gallon of gas.
The problem of the gold standard (and bitcoins) is that there is a limited supply with an increasing population.
The amount of money needs to increase with the increase in the population to keep the trade flowing.
And a small bit of inflation gives you an incentive to use your money to invest in promising ventures and rewarded at the least by countering inflation.
Burying your money in a tin can in the backyard doesn't do squat for the nation. Nor does secreting your money in a Cayman Islands bank account.
Small amount of inflation?????? Inflation is HUGE!!! The buying power of a currency is much more important than the amount of it. Limited finite supply is what secures currency and is a good thing for the buying power. Printing more fiat currency helps no one when th value is being diminished. It's like saying 'd rather have 90 pennies instead of $1 because I have more of them then.
joker

Owensboro, KY

#20 Mar 28, 2014
greymouser wrote:
<quoted text>
You've given me a new perspective here.
My employer pays me with money.
According to you, what did my employer buy?
He bought your labor and hopefully made a profit

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