Episode 96: What Is Money, Anyway?
Words & Numbers
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How Money Works in the Modern World
The modern world in which we live has a monetary system and we haven't really discussed how a monetary system works. Money is not just dollar bills, it also means the money in people's checking accounts. An understanding of money is actually quite simple: It's a way we store wealth. We work, we earn money, we get to save the product of our labor over time.
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