Words & Numbers


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Insightful weekly commentary on news & current events from economist Antony Davies and political scientist James R. Harrigan.

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What Is Money, Anyway?

December 12, 2018

Money is one of those things that is so ubiquitous, so completely taken for granted, that we rarely stop to think about what it actually is. The colored bits of paper that we call dollars don’t have any particular worth on their own, yet we use them as though they do. John Locke, in 1689 when he wrote his Second Treatise of Government, touched on it, hinting at the three qualities money possesses. But what are those three things? What happens when one or more of those three attributes is abandoned? And how does the government fit into all of this? Join James Harrigan and Antony Davies as they examine this and more on this week’s episode of Words and Numbers.

Show Notes:

Payless Shoes’s social experiment

Japan 1

Japan 2

Foolishness of the Week

Instructions for making toast

Topic of the Week: What is money?


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