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#423: The Invention of Money

January 10, 2011 | Format: MP3

$1.29
Song Title
Time
 
30
58:00
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By Deanna J. Marquart on March 25, 2014
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THIS AMERICAN LIFE is always insightful, always provocative, always worth listening to ... and, given that I have several opportunities in any given week to hear it on the radio, I rarely miss an episode. Just in case, tho, I also subscribe to the podcast. Every now and then, an episode of TAL reverberates and I continue to think about it long after it airs. "The Invention of Money" is one of these. This program stays with me as I evaluate any variation of financial news.
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If everyone understood what "money" really is, the world would be a better place. As this story explains, money is not a commodity, it is just an idea and a power of government. The mindset that money can be in short supply, and the widely held fear that it is possible for our government to be "broke", are both effectively invalidated if one understands that money is not a commodity. If money is not a limiting factor, it opens up all kinds of possibilities for what we can do as a society.

I recommend listening to "The Invention of Money". Very enlightening.
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By CWB on February 5, 2013
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I love this episode. I use it in my economics class to help the students understand how the money suppy works. They are so surprised to learn that money is fiction, but at least they learn it in an entertaining way.
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What is money? Held my rapt attention for the whole show - it will make you think about what money is. Highly recommended!!
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