Reply To: Money


There is absolutely an overlap, with exception and the unfortunate reality of government imposed currency. In the Venn diagram of life, all mediums of exchange (that are not imposed by vicious and tyrannical governments) are goods, but not all goods are mediums of exchange. I haven’t seen the video yet, but medians of exchange share certain traits. Gene Calhoun’s book, Economics for Real People, has a great chapter on money (chp eight) where he lists qualities that would cause a good to be elevated to a medium of exchange. Here are a few; widely marketable, transports easily ( this one always makes me think of the walking the family cow to market, the only currency that walks itself, lol), relatively scarce, imperishable, easy to store, easy to divide. You get the idea.

Here is a link to a fun article about the clothes detergent Tide being used as a black market currency.

I’m loving Liberty Classroom as well! I really bought the sub for the economics, but the history courses have knocked my socks off!