How Money Is Still Relevant For Scientific Analysis

1524 Words Apr 23rd, 2015 7 Pages
As a result of money being developed as a practical means to exchange goods, the question of what is money is still relevant for scientific analysis. What is it really? Is it a social construct that has no intrinsic meaning? Is a dollar bill money? Is it a representation for value, or it is valuable intrinsically? Who decides the worth? What do we mean when we speak of money? The answers to these questions are not fully understood in our analysis of the current literature. Our goal is to explore this general theme and explain why it is a difficult questions. The method of achieving this goal will be to look at what money is definitely not, as well as some of the properties that money must include. This will reveal a perspective on money which is not well defined, but rather, one can follow our thought process to see which direction we are going in. This gives hints, but no explicit definition for money. It is an exploration of the concept. The first topic is the practical history, or changes in monetary systems. The simple fact that there have been many currency systems across time and space which have all been considered money means that money is not the physical currency of any particular culture. It is the abstract concept that we will be discussing. Our literature shows that the changes that certain cultures experienced when they went from their own ‘primitive’ systems to the european generalized system of money are good starting points for the analysis of what money…
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