Episode 96: What Is Money, Anyway?
Words & Numbers
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The Three Attributes of Money
In 1689, John Locke described money as a standard of value that everyone agrees on. He also said it had to have three attributes: be fixed in quantity, durable and not degrade over time. Today we've abstracted ourselves so far away from the goods and services that we've forgotten whatMoney actually is," says Julian Zelizer.
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