{"id":34416,"date":"2016-02-24T19:20:39","date_gmt":"2016-02-24T13:50:39","guid":{"rendered":"http:\/\/www.newsilike.in\/?p=34416"},"modified":"2017-11-28T12:25:23","modified_gmt":"2017-11-28T06:55:23","slug":"what-is-money","status":"publish","type":"post","link":"https:\/\/www.newsilike.in\/what-is-money\/","title":{"rendered":"What is Money?"},"content":{"rendered":"<p>At first glance, the concept of \u201cmoney\u201d seems extremely straightforward.<\/p>\n<p>For example: the cost of a loaf of bread in New York City at a grocery store may be $3.50. We don\u2019t think about it much, and we pull out our wallets to pay with cash or a credit card.<\/p>\n<p>But money is actually more complex. A very similar loaf could have been bought for:<\/p>\n<ul>\n<li>0.4 aes during the Roman Republic<\/li>\n<li>3 aes in Rome under Emperor Nero<\/li>\n<li>1 penny during Queen Elizabeth\u2019s reign in England<\/li>\n<li>0.2 beaver pelts in 1795 in North America<\/li>\n<li>$0.21 in 1965<\/li>\n<li>$35 million Zimbabwean dollars in the midst of hyperinflation<\/li>\n<li>10\u00a5 in China (equal to only $1.50 USD)<\/li>\n<li>35 rubles in Moscow (equal to only ~$0.55 USD)<\/li>\n<li>7.8 grams of silver ($14 spot price)<\/li>\n<li>23,000 Dogecoin cryptocurrency<\/li>\n<\/ul>\n<p>Time and place clearly matters. However, which \u201cmoney\u201d you pay with also matters. What <em>is<\/em> money? [<a href=\"http:\/\/money.visualcapitalist.com\/what-is-money-infographic\/\" target=\"_blank\" rel=\"nofollow noopener\" class=\"broken_link\">via<\/a>]<\/p>\n<p><a href=\"http:\/\/i2.wp.com\/money.visualcapitalist.com\/wp-content\/uploads\/2015\/12\/what-is-money-infographic.jpg?w=1360\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/i2.wp.com\/money.visualcapitalist.com\/wp-content\/uploads\/2015\/12\/what-is-money-infographic.jpg?w=1360\" alt=\"What is Money?\" width=\"1070\" height=\"4761\" title=\"\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At first glance, the concept of \u201cmoney\u201d seems extremely straightforward. For example: the cost of a loaf of bread in New York City at a grocery store may be $3.50. We don\u2019t think about it much, and we pull out our wallets to pay with cash or a credit card. But money is actually more&hellip;<\/p>\n <a href=\"https:\/\/www.newsilike.in\/what-is-money\/\" title=\"What is Money?\" class=\"entry-more-link\"><span>Read More<\/span> <span class=\"screen-reader-text\">What is Money?<\/span><\/a>","protected":false},"author":2,"featured_media":34418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"Layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[4991],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.newsilike.in\/wp-content\/uploads\/2016\/02\/What-is-Money.jpg","_links":{"self":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/34416"}],"collection":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/comments?post=34416"}],"version-history":[{"count":0,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/posts\/34416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media\/34418"}],"wp:attachment":[{"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/media?parent=34416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/categories?post=34416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsilike.in\/wp-json\/wp\/v2\/tags?post=34416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}