A Quote by Lawrence Reed
Money is an invention of the marketplace of exchange,
brought into being by traders
who discovered that a reliable medium
could facilitate trades that were more difficult
or even impossible by barter alone.
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In primitive society, man produced directly for the satisfaction of his own wants, but with the development of society came differentiation of function; exchange and barter arose, various trades sprang up, and with the necessity of commercial intercourse came the invention of money.
Money appears as measure (in Homer, e.g. oxen) earlier than as medium of exchange, because in barter each commodity is still its own medium of exchange. But it cannot be its own or its own standard of comparison.
The good traders are the ones who can hold their ground the majority of the month and participate in that small handful of trades that are windfalls. The real skill is in not LOSING money!
A society that relies on generalized reciprocity is more efficient than a distrustful society, for the same reason that money is more efficient than barter. Trust lubricates social life. Networks of civic engagement also facilitate coordination and communication and amplify information about the trustworthiness of other individuals.
On the New York Stock Exchange, all buy and sell orders are routed through a single 'specialist,' guaranteeing that most small trades can be matched directly. But most larger trades are delivered to the specialist on the floor of the exchange by human brokers, a system that big investors view as increasingly inefficient.
Debt is not just a money thing. It's about owing and being owed. Money is just one thing you can exchange. You can exchange good deeds, you can exchange revenge, you can exchange murders.
Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark.
There is no reason products and services could not be swapped directly by consumers and producers through a system of direct exchange – essentially a massive barter economy. All it requires is some commonly used unit of account and adequate computing power to make sure all transactions could be settled immediately. People would pay each other electronically, without the payment being routed through anything that we would currently recognize as a bank. Central banks in their present form would no longer exist – nor would money.
The Internet is this whole new world that allows everyone to communicate and exchange information and be a perfect marketplace and just accelerate everybody's lives. So, for me, the Internet was the greatest invention of mankind so far.
There were so many bands in New Orleans. But most of the musicians had day jobs, you know -- trades. They were bricklayers and carpenters and cigar makers and plasterers. Some had little businesses of their own -- coal and wood and vegetable stores. Some worked on the cotton exchange and some were porters. They had to work at other trades 'cause there were so many musicians, so many bands. It was the most musical town in the country.
Before Plato could describe love, the loved one had to be invented. We would never love anybody if we could see past our invention. Bosie is my creation, my poem. In the mirror of invention, love discovered itself.
Money alone can't bring you happiness, but money alone has not brought me unhappiness. I won't say my previous husbands thought only of my money, but it had a certain fascination for them.
In essence, money gives us the calories we need to survive. Over time, we became aware that exchange and cooperation increase our chances for survival. Eventually we create tools to facilitate trade. One of these tools is called money.
Gregorian chant, Romanesque architecture, the Iliad , the invention of geometry were not, for the people through whom they were brought into being and made available to us, occasions for the manifestation of personality.
What if there were no grownups? Suppose the whole idea of grownups was an illusion? What if their money was really just playground marbles, their business deals no more than baseball-card trades, their wars only games of guns in the park? What if they were all still snotty-nosed kids inside their suits and dresses? Christ, that couldn't be, could it? It was too horrible to think about.
The international monetary order is more precarious by far today than it was in 1929. Then, gold was international money, incorruptible, unmanageable, and unchangeable. Today, the U.S. dollar serves as the international medium of exchange, managed by Washington politicians and Federal Reserve officials, manipulated from day to day, and serving political goals and ambitions. This difference alone sounds the alarm to all perceptive observers.
