Money mastery

Money is the common denominator of most economic transactions. Money is that commodity which serves as a medium of exchange, is universally acceptable to participants in an exchange economy as payment for goods or services, and can be used as a standard of market value and as a store of value.

The existence of such a commodity is a precondition of a division of labor economy. If humans do not have some commodity of objective value which is generally acceptable as money, they resort to primitive barter or live on self-sufficient farms, forgoing the inestimable advantages of specialization. If humans have no means to store value, long-range planning makes no sense to many.

But a few ...