The brilliant Brendan Mcooney explains what we’ve all been asking: What the hell is Money?
Ok, so it’s still a bit complicated but at least we have a bit of a clue that those bits of paper are not just some ‘thing’ that actually has any value in and of itself-its value comes from it’s exchange value (or something like that). Anyway, Brendan has loads of great videos explaining lots of difficult questions in his Youtube channel. Feel free to subscribe, repost and share his videos with anyone.
Here’s a bit of the transcript. The rest be found at http://kapitalism101.wordpress.com/what-the-hell-is-money/
We will start our investigation of money by looking at some of the basic problems of barter. We’ll see how money solves these problems but, in doing so, creates some problems of its own. As money evolves from, shells and salt to gold, to paper money, to bank notes and credit instruments, we will see a common theme reappearing over and over, taking different forms as money takes different forms: that money is always trying to resolve the contradiction between being a measure of value and a medium of circulation.