Bite Size Economics No. 2
'Money is trust'
Money is usually seen as a store of value or a means of exchange but these functions depend on its manifestation of trust.
We trust money is acceptable to others (in the form we want to use from paper money to digital payments); we trust its value is (at least in the medium term) relatively stable.
When our trust declines so does money's stability (inflation, barter exchange). So, without our trust money cannot work!
#BiteSizeEconomics #economics
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"content": "Bite Size Economics No. 2\n\n'Money is trust'\n\nMoney is usually seen as a store of value or a means of exchange but these functions depend on its manifestation of trust.\n\nWe trust money is acceptable to others (in the form we want to use from paper money to digital payments); we trust its value is (at least in the medium term) relatively stable.\n\nWhen our trust declines so does money's stability (inflation, barter exchange). So, without our trust money cannot work!\n\n#BiteSizeEconomics #economics",
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