About: Social and psychological value of money   Sponge Permalink

An Entity of Type : owl:Thing, within Data Space : 134.155.108.49:8890 associated with source dataset(s)

Money as we know it today is a symbol of value created by the human imagination with no intrinsic value of its own. A coin or paper currency note has value because people accept it as a symbolic medium of exchange. The economic value of money as measured by its purchasing power is a subject of economic theory. But economics does not explain how individual human beings and societies came to accept symbolic money as a medium of exchange or store of value. The process of according value to a symbol is psychological and social. Money is a social institution based on the consent of the population and a psychological symbol based on the consent of the individual. Money has acquired the all-pervasive value that it possesses today by a slow evolutionary process that can be most easily understood b

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  • Social and psychological value of money
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  • Money as we know it today is a symbol of value created by the human imagination with no intrinsic value of its own. A coin or paper currency note has value because people accept it as a symbolic medium of exchange. The economic value of money as measured by its purchasing power is a subject of economic theory. But economics does not explain how individual human beings and societies came to accept symbolic money as a medium of exchange or store of value. The process of according value to a symbol is psychological and social. Money is a social institution based on the consent of the population and a psychological symbol based on the consent of the individual. Money has acquired the all-pervasive value that it possesses today by a slow evolutionary process that can be most easily understood b
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dbkwik:humanscienc...iPageUsesTemplate
abstract
  • Money as we know it today is a symbol of value created by the human imagination with no intrinsic value of its own. A coin or paper currency note has value because people accept it as a symbolic medium of exchange. The economic value of money as measured by its purchasing power is a subject of economic theory. But economics does not explain how individual human beings and societies came to accept symbolic money as a medium of exchange or store of value. The process of according value to a symbol is psychological and social. Money is a social institution based on the consent of the population and a psychological symbol based on the consent of the individual. Money has acquired the all-pervasive value that it possesses today by a slow evolutionary process that can be most easily understood by tracing its social and psychological origins from ancient times.
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