Kategorien entdecken

Das sind die Blinks zu

Paper Promises

Money, Debt and the New World Order

Von Philip Coggan
13 Minuten
Paper Promises: Money, Debt and the New World Order von Philip Coggan

Paper Promises offers a sobering take on the nature of money, the recent global financial crisis and what our attitudes about debt will mean for future generations.

  • Anyone who is deeply in debt
  • Students of history and economics
  • Older generations who struggle to understand why young people have so much debt

Philip Coggan is a columnist at The Economist and has written a number of books, including The Money Machine and The Economist Guide to Hedge Funds. For 20 years he has also worked at The Financial Times, most recently as investment editor.

Kennst du schon Blinkist Premium?

Mit Blinkist Premium erhältst du Zugang zu dem Wichtigsten aus mehr als 3.000 Sachbuch-Bestsellern. Das Probeabo ist 100% kostenlos.

Premium kostenlos testen

Was ist Blinkist?

Blinkist ist eine App, die die großen Ideen der besten Sachbücher in einprägsame Kurztexte verpackt und erklärt. Die Inhalte der über 3.000 Titel starken Bibliothek reichen von Sachbuch-Klassikern, über populäre Ratgeber bis hin zu diskutierten Neuerscheinungen. Basierend auf wissenschaftlichen Erkenntnissen wird jeder Titel von speziell geschulten Autoren aufbereitet und dem Nutzer als Kurztext und Audiotitel zur Verfügung gestellt.

Discover
3.000+ top
nonfiction titles

Get unlimited access to the most important ideas in business, investing, marketing, psychology, politics, and more. Stay ahead of the curve with recommended reading lists curated by experts.

Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:
Entdecke die Kernaussagen zu diesem Titel:

Paper Promises

Money, Debt and the New World Order

Von Philip Coggan
  • Lesedauer: 13 Minuten
  • 8 Kernaussagen
Jetzt kostenloses Probeabo starten Jetzt lesen oder anhören
Paper Promises: Money, Debt and the New World Order von Philip Coggan
Worum geht's

Paper Promises offers a sobering take on the nature of money, the recent global financial crisis and what our attitudes about debt will mean for future generations.

Kernaussage 1 von 8

Bartering a loaf for a lamb was how trade was done in early times. Today, money moves markets.

If money is just ink on paper, why is it that we worship it so? The answer rests in how we use it.

Money’s primary function is as a medium of exchange. Before we used money, deals were settled through bartering. If you were a baker, for example, and you wanted a pair of pants or a leg of lamb, you could find a shepherd and trade. If you gave him 100 loaves of bread, he’d give you a lamb.

But what if the shepherd had no need for bread? You’d then have to find something he did want, perhaps a new knife. You’d then have to find a blacksmith (who needs bread) to make the knife, which you could trade for the lamb.

Trying to find the right thing to trade could lead to some intricate, time-consuming bartering. Money cuts through this confusion: if you want something, you simply exchange it for money, which the seller can then use to buy something else. The transaction is simple, and direct.

Money also functions as a unit of account, or a means of measuring a product’s value.

To trade an item, we need to understand its worth. Bartering makes this difficult. Could you say accurately how many lambs one knife is worth? Or does it depend on the needs and resources of the shepherd and the blacksmith?

Money makes valuation easy, as beforehand its value is agreed upon.

Finally, money can be used to store value, for example, by maintaining the value of a specific product.

Most of the world’s countries keep the value of their money more or less stable to foster investment and prevent inflation, in which prices rise but the value of money decreases.

Understanding money’s many functions is essential to understanding the way it can influence the economy and society.

Mit Premium freischalten Jetzt lesen oder anhören

Inhalt

Mit Premium freischalten Jetzt lesen oder anhören

Bringe mehr Wissen in deinen Alltag!

Sichere dir jetzt Zugang zu den Kernaussagen der besten Sachbücher – praktisch in Text & Audio in nur 15 Minuten pro Titel.
Created with Sketch.