This American Life and Planet Money recently produced an episode titled “The Invention of Money.” You can listen to it here.
The story places the concept of money into the framework of faith, mainly due to the fact that money is no longer a physical object with tangible value like gold. Instead, it is fiction, myth, a number generated on a computer, passing through the internet. With just the push of a button, we’ve got the genesis of currency; something they call in the story “Opening the Fed Window.” The only way this money-myth has value is if people have faith…
































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