How Authorities Define Money
Money is a current medium of exchange in the form of coins and banknotes. Money is coins and banknotes collectively. Webster Dictionary
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. Wikipedia
Money is any good that is widely used and accepted in transactions involving the transfer of goods and services from one person to another. CliffsNotes
That seems to include coconuts, coins, shells, gold nuggets, ball point pens (in India in 1986 a ball point pen was worth 3 bananas), paper currency, and paper as well as electronic records such as bitcoins.
How Ordinary People Define Money
Laurie: As I was drafting this chapter, I decided to do some informal research about this question. So, of course I opened Facebook and asked for a quick answer to the question, “What is money?” There were 83 responses.
I also started asking people I encountered and tabulating their answers as well. I collected about 100 responses to this question. Here is a summary. The numbers add up to more than 100 because some individual’s responses fell into more than one category.
30 people referred to money as a way of exchanging one thing for another. 18 saw it as a form of energy. Another 8 saw it as a tool and 6 more as a symbol or representation of something else. Only 7 called it a concrete thing: cash or currency.
Others seemed to focus on what money represented in their lives. These were change (or the ability to effect change) 8, security 6, freedom 5, survival 4, quality of life 2. A single person said money is abundance and one other responded that money is love!
Another 16 responded with a judgement of some kind. Some were clearly negative: money is dirty, shit, the root of all evil and inequalities, a weapon of the powerful, a nuisance, a distraction, a source of divisions, and a source of worry, jealousy, fraud and manipulation.
Other judgements were more ambivalent: A blessing and a curse, an overvalued but necessary resource in this world, mirrored perceptions, and something momentarily owned but not eternally yours.
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