The sense of money

Four Definitions of Money. All Correct.

Money makes the world go round. That may well be true, but money certainly makes the economics world go round. It’s the discipline’s special purview, the numeric linchpin that gives economics its dominant role and voice in our affairs. It’s what makes economics seem so “objective” compared to other social sciences. Given that, it’s remarkable that economists don’t have an agreed-upon definition of the word. Sure, there’s the three- or sometimes four-part “money serves as…” non-definition that you learn in Econ 101. ….[READ]