Despite its centrality to almost everything we do, we rarely pause to consider this question... what is money?

Money is:

• A medium of exchange (buy stuff with it)
• A unit of account (use it to price stuff)
• A store of value (buy stuff with it later)

What kinds of things have been used as money?

Lots of things…

• Objects like sea shells, salt, and large stones
• Gold
• Dollars that you have in your possession (or other fiat currency)

Technology has always played a role in the development of new money. It was a big deal to transition to gold. Technology!

The dollars you use every isn’t the best form of money… in fact it’s far from ideal. And yes, that even includes the digital version of paper dollars.

Why isn’t the dollar the best? What makes for a good form of money?

What Makes For A Good Form Of Money: