Sunday, November 10, 2013
Who Owns the Future Chapter 3
In chapter three of Who Owns the Future, the author talks about wealth creation and how money started. I really find this chapter interesting because the evolution from trading to using money is a great topic. The process is seamless in today's society, where in the past, people would trade cows for sheep. What I really like about the topic is that without money, a cattle farmer would have to buy a cows worth of salt, then use the salt to trade for other necessities. Basically, money takes time out of trade, making it easier and more efficient. In a reaction to the statement about economics being a young subject, I disagree in that people have been using incentives since people have been thinking, there just wasn't a name for it.
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