What is money?

Tweet

In olden days there was no money, it was rather a barter arrangement. You exchange your less required item with some who needs your item and you may get yours which is a less required item for him. Rich people used to get labors from poor people in exchange of food and clothings. Now money is the media for measuring value of an item or a services. It is piece of paper carrying value in the land. You can carry a very big bill of one country to another, where this piece of paper have no meaning unless accepted as exchangeable currency and get the local equivalent currency. With globalization the currencies of various countries are becoming more exchangeable with each others. Sometimes we do not see it that is the electronic money. Millions of dollars being transfered from account to another without physical presence. I think it is peace of mind, I feel happy to see my bank balance.