P1. What is wealth? To some, wealth may mean money or possessions but to others it may mean power. Prior to reading about Stone Money I viewed wealth as money. Now I am having mixed feelings toward the idea of money. I always used to think of money as a physical object. I also believed that the more money you had, the wealthier you are. In reality money is not even a factor in being wealthy. Money is just what we use to trade for goods. If you think about it, money doesn’t even have to be an object. If somebody really liked cheerios, you could trade them a box of cheerios for something in return and it would have the same effect as a dollar bill.
P2. The fact that there is a giant ball of limestone sitting in the middle of the ocean somewhere still being claimed by someone who is deceased is unsettling to me (NPR). that is like me having 500 dollars and throwing it in the ocean. When the money washes up onto shore and someone picks it up, it would now be theirs. Nobody can just go pick up the giant ball of limestone and claim it.
P3. Brazil’s idea of money was that it literally grew on trees. They figured if you just print more money, there will be more wealth in the country. If it weren’t for the four brothers, they would still be using that form of economics and their country would eventually fold. Money needs to have some sort of value. If you just print out more, it would not be worth anything. It would be the same thing as picking leaves off of a tree and buying a car with them. Money needs to have value. You then would have to convince the people that the money is now worth much more than it did before and they need to value it more.
P4. Once a country is in debt they will do anything to try and get back on track. For Japan, this means an increase on inflation (NYTIMES). As if the people are not paying enough already, they are about to get hit with an increase on everything they buy just to pay off the country’s debt. The Japanese government will announce around 12 trillion yen ($136 billion) in fiscal stimulus measures to boost the nation’s shrinking economy (Bloomberg)
P5. Every country has their own various methods to regulate their economy. One thing that is common between them all is the use of a made up object of value called money. Every economy is based on money and every person believes that the more money they have, the wealthier they are. If the money has no value to it, then there is no wealth associated with the green paper. Look at it like this; lets say for example you sell your car in exchange for 10,000 dollars. That 10,000 dollars has value. Where if you just printed out 10,000 dollars with nothing in exchange, it would have no value. Luckily here in America we have a pretty good sense of value when it comes to money. We just have too big of a problem with spending more than what we have.
Works Cited
Rowan Counterintuitive 
Every country has their own various methods to regulate their economy. One thing that is common between them all is the use of a made up object of value called money. Every economy is based on money and every person believes that the more money they have, the wealthier they are. If the money has no value to it, then there is no wealth associated with the green paper. Look at it like this; lets say for example you sell your car in exchange for 10,000 dollars. That 10,000 dollars has value. Where if you just printed out 10,000 dollars with nothing in exchange, it would have no value. Luckily here in America we have a pretty good sense of value when it comes to money. We just have too big of a problem with spending more than what we have.
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You’ll have to work hard, WVUHockey, to produce complex and persuasive essays. This early draft meets the requirements for the assignment, but so far it doesn’t rank near the top of the grade curve. There’s plenty of help available, both from me and from the Writing Center, to improve the content and organization of your work. I urge you to take advantage of both.
As you know, you’ll receive preliminary grades in four grading criteria: Argument, Rhetoric, Mechanics, Scholarship (ARMS). Grades can always be improved by revision. To understand your grades, you need to know your Grade Code, which I shared with you in class MON SEP 19. I’ve numbered your paragraphs for easy identification. Additional feedback is always available upon request.
Argument (Grade V)
An Argument Flaw in P5.
YOU SAY: If the money has no value, then there is no wealth associated with the green paper. Let’s say for example you sell your car in exchange for 10,000 dollars. That 10,000 dollars has value. Where if you just printed out 10,000 dollars with nothing in exchange, it would have no value.
In your example, both the car and the money have value. The proof of the car’s value is that someone will pay 10,000 for it. The proof of the money’s value is that someone will give a car for it.
Whereas if you printed 10,000 (by which I assume you mean counterfeited 10,000), the counterfeit money would have value too, provided someone accepted it in return for a car. That same money could be passed from hand to hand in exchange for goods until someone recognized its illegitimacy, at which time it would cease being money. The last person to accept it would lose 10,000.
An Argument Flaw in P1.
YOU SAY: Money is just what we use to trade for goods. It doesn’t even have to be an object. If somebody really likes cheerios, we could trade them a box of cheerios for something in return and it would have the same effect as a dollar bill.
First, a box of Cheerios is an object. And while it’s true that we could trade someone a box of Cheerios for a carton of milk, that does not make it the equivalent of a dollar bill. The essential difference between money and Cheerios is that everyone in a dollar economy values a dollar more or less equally, whereas only Cheerio lovers really value Cheerios. The universal acceptability of the dollar is what gives it value.
Rhetoric (Grade U)
The fact that there is a giant ball of limestone sitting in the middle of the ocean somewhere still being claimed by someone who is deceased is unsettling to me (NPR). that is like me having 500 dollars and throwing it in the ocean. When the money washes up onto shore and someone picks it up, it would now be theirs. Nobody can just go pick up the giant ball of limestone and claim it.
This paragraph may contain a valid argument, WVUHockey, but your language is obscuring it. Your analogy misses the point of the story of the sunken fei. Nobody will ever retrieve that “money,” but its physical presence or absence is of no consequence to its owner. I will offer you a different analogy. Donald Trump has created a value for his own name. Unlike banks that pay huge naming fees to have NFL stadiums named for them, Trump can get developers to pay him millions to attach his name to a project. His name is not an object like the sunken fei. Its insubstantiability doesn’t matter at all. And neither could anybody steal it and be richer. If he’s a billionaire, it’s because he can sell his name for a billion dollars whenever he wants to.
Mechanics (Grade U)
I’m copying and correcting P5 here, WVUHockey, to demonstrate the grammar corrections you need to make to avoid FFG (Failing for Grammar).
UNCORRECTED
Every country has their own various methods to regulate their economy. One thing that is common between them all is the use of a made up object of value called money. Every economy is based on money and every person believes that the more money they have, the wealthier they are. If the money has no value to it, then there is no wealth associated with the green paper. Look at it like this; lets say for example you sell your car in exchange for 10,000 dollars. That 10,000 dollars has value. Where if you just printed out 10,000 dollars with nothing in exchange, it would have no value. Luckily here in America we have a pretty good sense of value when it comes to money. We just have too big of a problem with spending more than what we have.
CORRECTED
Every country its own methods to regulate its economy. One thing that is common between them all is the use of a made-up object of value called money. Every economy is based on money, and all people believe that the more money they have, the wealthier they are. If the money has no value, then there is no wealth associated with the green paper. Let’s say for example you sell your car in exchange for 10,000 dollars. That 10,000 dollars has value. Where if you just printed out 10,000 dollars with nothing in exchange, it would have no value. Luckily here in America we have a pretty good sense of value when it comes to money. We just have too big of a problem with spending more than what we have.
UNCORRECTED FROM P1
Money is just what we use to trade for goods. If you think about it, money doesn’t even have to be an object. If somebody really liked cheerios, you could trade them a box of cheerios for something in return and it would have the same effect as a dollar bill.
CORRECTED FROM P1
Money is just what we use to trade for goods. It doesn’t even have to be an object. If somebody really likes cheerios, we could trade them a box of cheerios for something in return and it would have the same effect as a dollar bill.
Scholarship (Grade V)
You have provided a Works Cited, but you’ll need to replace all your MLA-style parenthetical citations with the inline style demonstrated in several places in the Revision—Mechanics Lecture.
OVERALL
Take heart, WVUHockey. Your current grade is a reflection of how this work would be graded if it were submitted as part of your Portfolio. The semester is young and help is available. Every post can be endlessly revised. I will meet with you any MON or WED, in personal conferences, and provide continuous feedback in and out of class.
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Your attempt to address the E02 Cows and Chips Exercise adds a car to the paragraph but no clarity.
Are you saying that money HAS NO VALUE until it becomes a car? Why would anyone accept money in return for work? Wouldn’t we all demand to be paid in groceries or vehicles?
Coded Grade: U
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