The Impostors Way

15 - Are you using bad money?


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We've learned that everything from sea shells over salt to silver coins were once money. Some of those "moneys" did their job better than others but all were products of their time and served their purpose. They were the tools at hand serving in the functions of  "being a medium of exchange", "storing value" and  "being a unit of account".

To get to this functionality the tool of money should have a few characteristics. Checking for these characteristics can be our checklist to compare moneys.

  • Money is generally accepted
  • Money is portable
  • Money is divisible
  • Money is durable
  • Money is recognisable (hard to counterfeit)
  • Money is homogenous (same denomination everywhere)
  • Money is scarce
  • ...more
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    The Impostors WayBy immanuel