Changes

Money is, in many ways, a form of communication.  Donating money to a political candidate or a charity makes a statement.  Buying expensive clothes, a luxury car, or a showy house is like free speech too.  We often judge the value of something by looking at its price.  We expect a car that costs $30,000 to have higher quality than a car that costs only $15,000.  We don’t even have to drive each car to know that.  Sometimes the price can be misleading, of course.  But often price is a good indicator of the underlying value of the good or service.

Money is, in many ways, a form of communication.  Donating money to a political candidate or a charity makes a statement.  Buying expensive clothes, a luxury car, or a showy house is like free speech too.  We often judge the value of something by looking at its price.  We expect a car that costs $30,000 to have higher quality than a car that costs only $15,000.  We don’t even have to drive each car to know that.  Sometimes the price can be misleading, of course.  But often price is a good indicator of the underlying value of the good or service.

Money is used to obtain food for starving people and for helping them in other ways.  Or money can promote evil, as when communist countries build armies to suppress freedom.  Then even more money would be helpful to defeat the evil, as in World War II.  Of course, factors other than money play a big role also.

Money is used to obtain food for starving people and for helping them in other ways.  Or money can promote evil, as when communist countries build armies to suppress freedom.  Then even more money would be helpful to defeat the evil, as in World War II.  Of course, factors other than money, such as sacrifice and politics and military tactics, play a big role too.

When asked how much more money people want, many say they would be happy with 20% more money than they have.  Remarkably, this answer is the same from the poorest to the wealthiest persons. In absolute terms, the more money someone has, the more money he wants.  But some wealthy people give their money away to charity.  [[Andrew Carnegie]] acquired and hoarded one of the greatest amounts of wealth in the history of the world, wrote the “Gospel of Wealth,” and then gave it all away before he died.  Carnegie Hall, the first 39 branches of the [[New York Public Library]], and Carnegie-Mellon University are the products of just a few of his gifts.

When asked how much more money people want, many say they would be happy with 20% more money than they have.  Remarkably, this answer is the same from the poorest to the wealthiest persons. In absolute terms, the more money someone has, the more money he wants.  But some wealthy people give their money away to charity.  [[Andrew Carnegie]] acquired and hoarded one of the greatest amounts of wealth in the history of the world, wrote the “Gospel of Wealth,” and then gave it all away before he died.  Carnegie Hall, the first 39 branches of the [[New York Public Library]], and Carnegie-Mellon University are the products of just a few of his gifts.

Freedom depends on the free exchange of money.  Communism and other totalitarian systems rely government control over how money is earned, saved and spent.  Loss of this freedom inevitably results in the loss of freedoms of religion and speech too.  If we ever lose our rights to pick a job or career, then it would not be surprising if we lost our rights of worship also.

Freedom depends on the free exchange of money.  Communism and other totalitarian systems rely on government control over how money is earned, saved and spent.  Loss of this freedom inevitably results in the loss of the freedoms of religion and speech too.  If we ever lose our rights to pick a job or career, then it would not be surprising if we lost our rights of worship also.

== This Economics course is about far more than money ==

== This Economics course is about far more than money ==