204.1 Lesson - notFromGovernment

Screen: notFromGovernment

Headline: Money is not a government creation

Reward: 2

Text: There is a popular misconception that money is a government creation and cannot exist without government. This is false.

The history of money goes back thousands of years to times when governments did not exist, but money did.

This proves that money is emergent and simply the most tradable good in a market. It is not a government creation and certainly does not require a government to make money work.

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QUIZ

Question: What is money?

Answer: Money is the most tradable good in any given market.

Feedback: Correct. It's interesting to think about how different societies throughout history have used different items as a form of currency, from seashells to cattle to gold. But ultimately, it's the willingness of people to trade and accept an item as payment that determines its value as money

Correct: true

Answer: Money is a government creation.

Feedback: Nope, sorry! Looks like the government isn't as powerful as we thought they were. Better luck next time

Correct: false

Answer: Money is a magical substance created by fairies.

Feedback: Sorry, but it looks like the tooth fairy is the only one making magic money these days. Better luck with your next answer!

Correct: false