The real value of a dollar

  • 31 May 2019
  • NormanL

In the nearby video, John Stossel gives us a brief history of money -- it's more complicated, and compelling, than you might think. At bottom, all money is based on trust. If two people can agree on a set value for money, and trust neither will fudge on the agreed value, then we can build an economy.

But trust has never been easy to gain, and was often abused by rulers and governments who sought to debase money in pursuit of their own ends. Does that mean we need an objective store of value -- like precious metals, commodities, or the new alternatives in cryptocurrency (that leave governments out almost entirely)? Watch and learn.