Part One

What is Money?

Learn about the concept of money from first principles. These articles cover topics such as trade, the evolution of money through time and the properties that make a good money.

1.1 Why We Trade: The Link to Time

The origins of trading appear to have no real beginning and seemingly no real end. Without it, our society,...

1.2 Limitations of the Barter System

We discussed why trade was necessary in our previous article. Here we’ll cover trade in its most...

1.3 the Evolution of Money

Money is often taken for granted as a part of our daily lives, but it is important to remember that it...

1.4 Properties of Good Money

The value of an item is determined by its utility or usefulness to an individual.1,2 Contrary to this,...

1.5 Violating Scarcity: the Price of Unlimited Supply

The previous article discussed the properties of good money. In this article, we’ll explore the...