If you happen to have cash in your wallet right now, take out a note and have a look at it. It’s just a piece of paper. It has a picture of someone famous on it, a few words and a number. That’s what money is.
In real terms, it is a medium of exchange created because bartering got a bit tricky, e.g. how do you value your cow when you want to swop it for a sack of grain. But, as you will see, not all dollars are equal!
Sounds all very rational doesn’t it and it kept the economists happy. But the economists forgot a very important point. We aren’t rational! So, when we see the piece of paper with pictures and numbers on it, we see a lot more than a symbol to buy stuff. We see all sorts of emotions and meanings and it’s different for men & women. Continue reading