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Chapter 6: What is Money?

Money is so familiar that we assume a common understanding of what it is as a means of exchange. But what exactly is a U.S. dollar? Money systems all have pros and cons, and ours is built around a fiat currency, which does not hold value over time and actually allows money to be created out of thin air. In this chapter, explore the important perspective of money being a claim on human labor and a social contract.