What Is Money? How Is It Created?

Money is the crux of society. Without it, anarchy would break out. Bargaining would fail as people would claim the trade wasn’t fair, thievery would explode across the globe, lazy people would do nothing, and people wouldn’t have motivation to do anything but help their own family and selves. Yet, while everyone knows money is important, is ALL money important? For centuries, the penny has been part of American currency. And back in the day, it served a great purpose. Pennies could buy candies, breads, and many other things all on their own. But as time has changed, so has the value of the penny. As costs went up, the value of the penny went down. And with its lesser value, some people wonder if it’s even worth it to keep the penny around. But the answer to that little puzzle is as easily seen as a jigsaw meant for four years olds is put together. The penny must be kept.

In “On the Want of Money”, a 19th century text, William Hazzlit presents a strong position on the role of currency in society and the ironic relationship between man and his status through use of rhetoric; such as but not limited to syntax, repetition, and imagery. In doing so, Hazzlit strengthens his argument and gives more weight to his claims that support the idea that in possession of money and lack thereof man is miserable in his ways. Ownership leaves man alienated from friends and family, to be commemorated by a lonely, seldom frequented monument of massive proportions. Austerity dictates lives, limiting those in pursuit of wealth to a constant, consuming search. In summation, the concept of money is hopeless

Money is the life force of all of society. In every aspect, money determines the value of good, services, and even people’s lives. As we breathe air to function, society relies on finances to function. And if society, the unity of humanity, relies on money, than the leaders of society want to limit and control it to withhold their power over humanity. They do this by limiting what can be bought and sold, while also controlling how much different things cost. These limitations allow our leaders to control our money and, through that, our value and influence to society.

The excerpt from “On the Want of Money” by William Hazlitt is an outcry to humanity in response to the realities of a world that revolves around currency. Hazlitt implores his audience through his rhetoric to reflect on what they deem to be important, and to realize that their desires can be the very thing restraining them from attaining their ambitions. Through the use of irony, hypothetical examples, and figurative language William Hazlitt warns of the dangerous paths the pursuit of money can lead to, and the ultimate demise of anyone who takes these paths.

You have used money to measure the price, the size of business, total output in the economy, and income. Coins and paper money are called currency. People use currency daily. When you go to a movie, you probably buy a ticket with currency. Coins and paper money work well for small purchases and when payment is made directly from one person to another. But, for large purchases or when payments travels to mail, currency is not practical. A check is a written order to pay money from amounts deposited. Therefore, deposits in checking accounts, credit union share draft accounts, and other similar accounts are considered money. Remember that the most important function of money is as a

an individual” (382). The men who ‘make’ it are the ‘lovers’ of money and those who ‘take’ it

In the Webster Dictionary it define money as a medium that can be exchanged for goods and services and is used as a measure of value on the market. The Bible defines money as the root of all evil. Money is something that was brought into this world handmade, it isn't divine. Money is a part of life, but it is only temporary. It shouldn’t be more important than our relationship with God.

How long has money been around for and why does it exist? Money is the universal item to purchase any sort of good today. An environment where the rich are in control of the world, the existence of starving third world countries continue to exist. According to (www.gizmodo.com) there is “60 Trillion dollars” in the world. This is more than enough money to share $8571 amongst the “7.125 billion people” who live on Earth as stated on (www.worldometers.info). Money, a current medium of exchange in the form of coins, banknotes made of metal and paper is what society revolves around. It does not provide any nutritional benefit to fuel human bodies but man-kind is forced to work for currency in which then is used to purchase materialistic goods as well as food. The rich who have control over the global society, promote globalisation, teaches business that is driven by greed, while also creating idol figures for the lower classes to be similar to. Work is enforced to the less privileged, who are contracted to carry out task for in return they are trusted, and paid through money in order for the employees to have a reason for working. The constant loop of working under employment to earn money, to purchase food to survive, to afford materialistic goods to feel a sense of pride, people of society are not aware of problems such as third world hunger, and problems that are relevant to the continuous existence of humanity.

Money is a term that shows every description of coin or bank-notes recognized by a consent as a representative of value effecting exchanges of property and payment debts. M1 consists of currency outside the U.S. Treasury, Federal Reserve Banks, and

Simmel’s major work usually considers money and finances as well as the impact money has on society. In the book ‘The philosophy of Money’, Simmel is concerned with money as a symbol and how societies wealth affects itself and its people. He also finds that within society money becomes an impersonal or objectified measure of value. This grants neutral, rational ties amongst those within society which are institutionalised with money. He believed that the use of money and finances distances the individual from objects. This then provides the ability to overcome distance meaning that an individual with money has the means to travel greater distances. This overcomes person to person limitations which would occur without financial backing, and in some cases, asserts dominance over the other party.

When money comes to my mind, the first thing I think of is value. The value of money means so many different things to all people. One may have an excess of money and choose to spend it excessively and carelessly, which makes the one-dollar bill appear worthless to him. However, someone else may need this one-dollar bill to survive. It can buy a can of food or a bottle of water for someone who is homeless or starving. Money is still money; it is worth something

In economics, the term currency can refer either to a particular currency, for example the BD, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nation's money supply. The other part of a nation's money supply consists of money deposited in banks, ownership of which can be transferred by means of cheques or other forms of money transfer. Deposit money and currency are money in the sense that both are acceptable as a means of exchange, but money need not necessarily be currency.

In his latest work, The Ascent of Money, Niall Ferguson goes to great lengths to convince the reader that finance is the foundation of human progress. Ferguson starts with an attempt to answer the questions; what is money, how is it used, and how has it evolved over time? He argues that the evolution of credit and debt is as important as technological innovation. The specific interest to military leaders is how money, or the lack there of, played pivotal roles throughout history. Money to generals “is the sinews of war”.1 Niall Ferguson is well qualified to discuss this as a renowned British historian and professor of history at Harvard University. He is a bestselling author who has published numerous books on historical topics.

A: All societies have some form of money because it makes economic transactions much more convenient and efficient. The purpose of money can be simplified into two main concepts including unit of account and store of value. Money serves as a unit of account which means

In Friedman’s monetarist construct of money has two side that is highly active. One of the side is money is being the cause of all failures and asymmetries in the economy (in the short term). The other side is neutral which money is influencing only the price level (in the long term). The nominal quantity of money is determined by its supply. On the other hand, the real volume of the money stock is expressed in the amount of goods and services that can be acquired for a given nominal amount of money and is conditioned by the demand for money, which is directly related to the price level.