Social and psychological value of money
Money today is fiat money, a symbol of value created by the human imagination with no intrinsic value of its own. As most human beings are ill-equipped with the mental or emotional capacity to provide the sufficient sustenance and shelter necessary for basic survival, obtaining money is the sole purpose of human existence for billions of people throughout the world. A coin or paper currency note has value because people accept it as a symbolic medium of exchange. The economic value of money as measured by its purchasing power is a subject of economic theory. However economics does not explain how individual human beings and societies came to accept symbolic money as a medium of exchange or store of value. The process of according value to a symbol is psychological and social. Money is a so
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Social and psychological value of money
Money today is fiat money, a symbol of value created by the human imagination with no intrinsic value of its own. As most human beings are ill-equipped with the mental or emotional capacity to provide the sufficient sustenance and shelter necessary for basic survival, obtaining money is the sole purpose of human existence for billions of people throughout the world. A coin or paper currency note has value because people accept it as a symbolic medium of exchange. The economic value of money as measured by its purchasing power is a subject of economic theory. However economics does not explain how individual human beings and societies came to accept symbolic money as a medium of exchange or store of value. The process of according value to a symbol is psychological and social. Money is a so
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Money today is fiat money, a s ...... al origins from ancient times.
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Money today is fiat money, a s ...... ical and social. Money is a so
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Social and psychological value of money
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