What is money

What is money? Let us take the good news first. Money is one of the most inge­nious inven­ti­ons of mankind. It helps the exchan­ge of goods and services and over­co­mes the limits of the barter system, ther­e­by, crea­ting the possi­bi­li­ty for specia­li­za­ti­on, which is the basis of civi­li­za­ti­on. Why then do we have a „money problem“? Here is the bad news: Throug­hout most of histo­ry, the circu­la­ti­on of money has been based on the payment of inte­rest. Inte­rest leads to compo­und inte­rest. Compo­und inte­rest leads to expo­nen­ti­al growth. And expo­nen­ti­al growth in turn where­ver it cannot be trans­for­med is unsustain­ab­le. There­fo­re, in order to under­stand why our mone­ta­ry system works, as the „invi­si­ble wrecking machi­ne“ since its incep­ti­on, we must first under­stand three gene­ri­cal­ly diffe­rent growth patterns and how they relate to diffe­rent types of growth.

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