What \*Is\* Money?
A pretty interesting - and short - video on what, exactly, money IS. In plain English, and with some interesting examples to keep our attention (well, as interesting as an economist can make it, anyways ;)) Here are three of the elements that help make money, money:
- Store of value
- Unit of account
- Medium of exchange
Which is amazing that people used to use cows and big rocks as currency! But anyways, watch the vid - you'll feel all kinds of smart afterwards. Courtesy of Derek Thompson & The Atlantic: