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A dollar in your hand is "redeemable debt". It's future value that you've been promised, presumably for having prior given up something of value, like your time
by z3c0 4y ago
A dollar in your hand is "redeemable debt". It's future value that you've been promised, presumably for having prior given up something of value, like your time or some tangible good.
- omnicognate 4y agoSo a train ticket is money?
- scrollaway 4y agoKeyword is redeemable. A train ticket is not exchangeable. But yes, products can sometimes become accidental foreign currencies when they satisfy all the key properties, even if they’re not printed by a national bank. Casino chips for example. Disney dollars. Etc.