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Assets are less ephemeral stored wealth. Money facilitates transactions, but it is not a factor of production, it is not a consumption good, and it is not backe
by LudwigNagasena 6y ago
Assets are less ephemeral stored wealth. Money facilitates transactions, but it is not a factor of production, it is not a consumption good, and it is not backed up by any of these things, so it is a very nebulous type of wealth.
- galaxyLogic 6y agoI would agree with a previous poster that money is a debt obligation. If you have "money" in bank, what does it mean? It means the bank has a debt-obligation to pay you back with other type of debt-obligation, the government sanctioned cash. Money is definitely an interesting concept. I'm not sure I fully understand it. But I use it.
- LudwigNagasena 6y agoI don't get how it contradicts what I've said.