Advertisement

A penny for their thoughts

Reading Time:3 minutes
Why you can trust SCMP

At its most basic level, money is the means to buy things, or the payment received in exchange for goods and services. But money is also highly conceptual.

Advertisement

A country's currency is no longer backed by gold held by its central bank. Instead, its value relies on a combination of government legislation, the economy it represents and trust - a concept known as fiat money.

Meanwhile, the value of money fluctuates constantly. It can be printed by the boatload. Money supply is manipulated constantly, sometimes massively.

But for all its flighty, ephemeral qualities, money wields some pretty potent symbolism, which is remarkable, given that it is just paper backed by a massive collective act of faith.

So, what is it? Money Post asked several people for their views, to see what they projected onto this deeply abstract concept.

Advertisement

The economist

Advertisement