A big limestone wheel is different from an electronic bank balance, but they’re both considered money because the limestone wheel is equal to the same worth of money. As “The Invention of Money” mentions, ‘the stone money at the bottom of the sea, it exists. It’s still good money. Someone owns that stone even though it’s sitting on the bottom of the ocean.’ A limestone wheel and money is completely equal. Now an electronic bank balance is different because all it is digits informing you of how much money you have. Meanwhile a big limestone wheel is physically money. However, you can exchange money from your electronic bank balance to buy a big limestone wheel and it’ll be considered an equal exchange. For example, in stonemoneyessay.pdf they say “After concluding a bargain which involves the price of a fei too large to be conveniently moved, its new owner is quite content to accept the bare acknowledgement of ownership and without so much as a mark to indicate the exchange, the coin remains undisturbed on the former owner’s premises.” Which is saying an exchange with money and a limestone wheel is equally the same.
My thinking of money before today’s reading was that money was a very powerful thing. If you owned a certain amount of money then you were considered a dominant person. If you’re known to have a lot of money then you know that you’re doing the right thing in life. In my opinion, after learning about money I think it is pointless. Regardless of how much money you have, it doesn’t determine anything because it’s technically not there. You never actually get money in your hand, you barely see it. You just get a little receipt that indicates that you have money. I don’t think money is important as it seems. Money is just a factor in life that is considered to help us get by. In “The invention of money” the author explains that money is fiction. They mention, ” It is not physical, it is just numbers going back and fourth online.” In “Why Money Has No Real Value?” Christianson says, “Otherwise, the money just sits as useless piles in a bank vault somewhere. It is the entrepreneur that gives value to any dollar investment, not the other way around. The bottom line is that people and their abilities have real value, and money does not.”
My view on wealth has also changed because I’ve always the goal in life was to become wealthy. Everyone wants to become wealthy. But after learning this, becoming wealthy is a waste of time honestly. You become as wealthy as you can get for you not to see or spend your money the way it is you want to be seen or spent. You barely see your money because as “The Invention of Money” explains you get your hard earned money direct deposited into your account and you pay your bills electronically. So you never really experience the feeling of hundreds of dollars actually being in your hands so it’s like you never earned it to begin with. After learning about what money really is about, that changed my perception on my faith in things I never see as well. In my opinion, if I don’t see it then it was never there.
Friedman, Milton. “The Island of Stone Money.” Diss. Hoover Institution, Stanford University , 1991.
“The Invention of Stone Money.” 423: The Invention of Stone Money. This Is American Life, WBEZ. Chicago . 7 Jan. 2011.
Christianson, Darren. “Why Money Has No Real Value?” 5 Aug. 2015.