Difference between revisions of "Money"

Revision as of 14:09, March 1, 2007

A bartering tool, usually backed by some form of precious metal, that is perceived by others to have value and is used to acquire desired items.

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-A bartering tool, that is perceived by others to have value and is used to acquire desired items.
+A bartering tool, usually backed by some form of precious metal, that is perceived by others to have value and is used to acquire desired items.
-In primitive times, money usually had inherent value, being made of precious metal, fish-hooks, cowrie shells or similar.
-More recently, paper money was legally required to be exchangeable for a specific amount of precious metal.
-In modern times, most paper money has no inherent value beyond other peoples' willingness to exchange [[goods]] and [[services]] for it, thus putting the world economy on the same firm foundation as an apartment building erected by [[The Amazing Mystico and Janet]].