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'''Money''' is defined as something which serves as a means of exchange, a store of value, and a unit of account and represents only an extremely small fraction of the real wealth of any given society or [[country]] where it is used.  

'''Money''' is defined as something which serves as a means of exchange, a store of value, and a unit of account and represents only an extremely small fraction of the real wealth of any given society or [[country]] where it is used.  

Money fundamentally represents a quanity of labor. [[Adam Smith]], writing in 1776, said "a quantity of labor is difficult for many people to understand," however anyone who has ever examined the number of hours on a paystub in the 21st century should have no problem grasping the concept. [[Aristotle]] said money represents how many shoes a shoe cobbler must make to equal the labor of the carpenter who built his house.<ref>All prices are ratios, for example 1 gal. of gasoline that selles for $2.89, expressed as 1:2.89, or wage rate of $15 ''per'' hour would be 15:1.</ref> Money is a fiction used to express the exchange of equal quantities of labor.

Money fundamentally represents a quanity of labor. [[Adam Smith]], writing in 1776, said "a quantity of labor is difficult for many people to understand," however anyone who has ever examined the number of hours on a paystub in the 21st century should have no problem grasping the concept. [[Aristotle]] said money represents how many shoes a shoe cobbler must make to equal the labor of the carpenter who built his house.<ref>All prices are ratios, for example 1 gal. of gasoline that selles for $2.89, is expressed as 1:2.89, or a wage rate of $15 ''per'' hour would be 15:1.</ref> Money is a fiction used to express the exchange of equal quantities of labor.

A failure to understand what money is results in the success of [[socialism]]. For example, Rep. [[Alexandria Ocasio-Cortez]] has proposed "free" healthcare, education, housing etc., essentially promoting the non-sensical idea that people have the right to consume goods and services that have never been produced by labor. Alternatively, to implement such an impractical system, by law,<ref>e.g., [[USSR]], [[PRC]], [[North Korea]], [[Venezuala]], [[Cuba]], etc.</ref> only results in one group of laborers performing work for which they will not be paid, and for which another group of consumers receive the payment or benefit. In short, a [[slave]] system.

A failure to understand what money is results in the success of [[socialism]]. For example, Rep. [[Alexandria Ocasio-Cortez]] has proposed "free" healthcare, education, housing etc., essentially promoting the non-sensical idea that people have the right to consume goods and services that have never been produced by labor. Alternatively, to implement such an impractical system, by law,<ref>e.g., [[USSR]], [[PRC]], [[North Korea]], [[Venezuala]], [[Cuba]], etc.</ref> only results in one group of laborers performing work for which they will not be paid, and for which another group of consumers receive the payment or benefit. In short, a [[slave]] system.