Money as a Technology

What is technology? Knowledge, techniques, methods, and processes that help us complete an objective. A pencil is an example of technology. So are smartphones, light bulbs, and clothes. Yes, clothes.

Money is also technology.

What is money? Something that has three functions. Money operates as a medium of exchange so that we all accept it to buy goods and services, a verifiable unit of account so we know what it is worth, and a store of value in that it holds its value reasonably well.

But money also meets the definition of a technology. Technologies change. So will our ideas of money.

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