Part I surveyed the problems associated with defining money, and offered a working definition – money is the most marketable good. Part II took a deep dive into marketability, looking at three different ways we can observe and measure it in the real world. In Part III, we sought to highlight and restore two fundamental […]
Money and Money Functionality: Part III What’s Forgotten isn’t Remembered
In Part I we surveyed the problems associated with defining money, and offered a working definition – money is the most marketable good. In Part II, we took a deep dive into marketability and looked at three different ways we can observe and measure it in the real world. In Part III, we return to […]
Money and Money Functionality: Part II Measuring Marketability
In Part I of this essay we introduced the challenges of understanding what makes something money. After offering critiques of two of the most common ways of understanding money, we submitted a third definition built upon the idea of marketability. We agree with Hayek that marketability is best conceived along a spectrum with some goods […]
Money and Money Functionality: Part I Defining Money
Problems with Defining Money What is money? How does an economic good become a monetary good? What gives money its “moneyness”? Money is such a familiar part of everyday life that such questions often go unasked. Unasked questions aren’t likely to get answered. It’s no wonder there’s so much confusion on the topic. This essay […]
In Defense of Profits
“We aren’t tempted by the profit motive, so we’re more attuned to truly serve the needs of our customers…” “We don’t have the constant pressure of meeting a bottom line which often distracts us from really pursuing our mission…” “I’m so glad our business isn’t all about the pursuit of profit…” Ever heard something like […]