What is money?

  • (noun): The most common medium of exchange; functions as legal tender.
    Example: "We tried to collect the money he owed us"
    See also — Additional definitions below

Money

Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Any kind of object or secure verifiable record that fulfills these functions can be considered money.

Read more about Money.

Some articles on money:

Credit Theory Of Money
... Credit theories of money, also called Debt theories of money are concerned with the relationship between credit and money ... Proponents assert the essential nature of money is credit (debt), at least in eras where money is not backed by a commodity such as gold ... Two common strands of thought within these theories are the idea that money originated as a unit of account for debt, and the position that money creation involves the simultaneous creation of money ...
Offshore Bank - Money Laundering
... The IMF has said that between $600 billion and $1.5 trillion of illicit money is laundered annually, equal to 2% to 5% of global economic output ... is where most of the world's drug money is allegedly laundered, estimated at up to $500 billion a year, more than the total income of the world's poorest 20% ... "These offshore centers awash in money are the hub of a colossal, underground network of crime, fraud, and corruption" commented Lucy Komisar quoting these statistics ...
Money - Monetary Policy
... When gold and silver are used as money, the money supply can grow only if the supply of these metals is increased by mining ... Deflation was the more typical situation for over a century when gold and paper money backed by gold were used as money in the 18th and 19th centuries ... Modern day monetary systems are based on fiat money and are no longer tied to the value of gold ...
Sacred Prostitution - Ancient Near East - Mesopotamia
... she does not go away to her home before some stranger has cast money into her lap, and had intercourse with her outside the temple but while he casts the money, he must say, “I invite you in the name of ... It does not matter what sum the money is the woman will never refuse, for that would be a sin, the money being by this act made sacred ...
Złota Kaczka
... and receives 100 ducats, but is unable to spend all the money in one day ... Because of that he gives the remaining money to a beggar, who tells him that it's not money that brings luck ... A drunkard and bon-vivant, he has no trouble spending all the money on drinking with his friends ...

More definitions of "money":

  • (noun): Wealth reckoned in terms of money.
    Example: "All his money is in real estate"
  • (noun): The official currency issued by a government or national bank.
    Example: "He changed his money into francs"

Famous quotes containing the word money:

    It’s not money that brings happiness, it’s lots of money.
    Russian saying, trans. by Vladimir Ivanovich Shlyakov (1993)

    There is a gigantic difference between earning a great deal of money and being rich.
    Marlene Dietrich (1904–1992)

    Goodbye, boys; I’m under arrest. I may have to go to jail. I may not see you for a long time. Keep up the fight! Don’t surrender! Pay no attention to the injunction machine at Parkersburg. The Federal judge is a scab anyhow. While you starve he plays golf. While you serve humanity, he serves injunctions for the money powers.
    Mother Jones (1830–1930)