Post
Topic
Board Economics
Re: Beliefs about money and wealth
by
zigfridkr
on 27/06/2018, 04:21:43 UTC
Money is the generally accepted medium of exchange, which develops by the spontaneous action of market participants trying to get around the limitations of barter. So there is never a "ten people in a room, each starting with $100" scenario. Wealth is the ability to satisfy wants. Greater wealth means the ability to satisfy even less and less urgent wants...