Friday, February 1, 2008

Money is Magical; What is Money?

Atanu Dey explains Money and explains how Money can simply disappear without a trace!

Money is one of the most ingenious creations of human creativity. It is a way of keeping an account of who owns what. For that, first there have to be stuff that can be owned. So the stuff that you can own is the real stuff and money just keeps track of who has claims on that stuff. So if there is no stuff, money is worthless. On a deserted island with no stuff on it, sacks of money would be less useful than some stuff that you can use.

Read his full post where he explains the concepts of Money in a lucid manner by telling a story!
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