What Is Money?
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- Опубликовано: 8 фев 2025
- VIDEO UPDATE: Since May of 2020, M1 also includes savings deposits.
That may seem like a really simple question, but it’s actually kind of complicated. Paper bills and coins, or currency, is obviously money. But it doesn’t end there.
Technically, “money” is anything that is a widely accepted means of payment. This has changed throughout history. Once upon a time, cattle could be considered money. Or cowry shells. Today, cryptocurrencies like Bitcoin are being added to the mix.
Given that there’s no set definition for what makes a commodity money, there are a few measurements for the U.S. money supplies. The first, MB (or “monetary base”) measures currency and reserve deposits. This is what the Fed has the most direct control over.
Our next stop will be fractional reserve banking and the money multiplier.
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VIDEO UPDATE: Since May of 2020, M1 also includes savings deposits.
Thanks for the Update! 👍
Thank you for the update!
Momey Market Funds accounts were moved from M2 to M1, savings deposits remain as M2.
Your graphics are getting better, Marginal Revolution University - I look forward to seeing further improvements. Keep it up!
Great refresher videos. Thank you
Nicely explained.
Can you please do a video about cryptocurrency?
please tell me you bought btc ??? lol
he's back.
Thinks
for granite
for granite
So the monetary base can be defined as M0 + the reserve deposits of commercial banks at the central bank? Thanks!
Thank you ,good👍
Rationing device
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are coupons and gift cards considered money?
I would say so because they are a widely accepted means of exchange.
thx
good
Now can you explain why construction worker is payed low and basketball player high ?
Because millions of people will pay to watch a highly skilled basketball player play basketball, because they find it entertaining, and they won't pay to watch a construction worker because they don't find it entertaining. It's more complex than that, but that's the simple explanation.
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Alex man, throw that tie in the trashcan pls :) cool video btw
the jacket is at least one size bigger - not in equilibrium point. And patterns coordination depends on similar color pallete - simmetry in information exchange. Good video but terrible outfit. I cannot condone - moral hazard in flexing regulation.
stfu
and what about credit cards? are they money?
Not until you spend it
This is not nuanced enough to describe 'money' and is using legacy understanding which conflates 'money' and 'currency'. These terms are on different semantic levels: money refers to the agreement or legal element whereas 'currency' refers to its (technical) function. More detailed here: www.linkedin.com/pulse/cryptocurrencies-dollars-cigarettes-christian-kameir/
Currency is currency
Gold is money
All I have is a Savings Account and I can buy things from it using a debit card.
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How to you in erath 👉🤸🚶
Debt-to-GDP ratio please
Currency is not money
Great video for a 14 year old but a sixteen-year-old wouldn't buy it
CD lol
Aggression
It didn’t fundamentally answer the question.
Rationing device :)
Money is by far nothing you've stated though. True Money must have intrinsic value. So actually, jewelry is closer to being money than cash. I'm disappointed in this video for defining currency as money.
Gold is money!
It most certainly was and could still be used as such.
Straight White Male
Gold is worth more than any fiat paper that’s printed. In other words, it’s better than “money”
@@emperoralvis6559 Gold is worth more than money?
RUclips comments comedy from retards is fantastic.
This is mostly wrong, or at the very least misleading, and the next video covering the money multiplier even more so. Sad that this information is shared by reputable economists as true. Authors, please see “Money creation in the modern economy“ by the Bank of England, and revise or delete these videos.
Jesse,
Thanks for your comment. We are planning to release videos that cover the newer tools the Fed uses to influence the economy, including paying interest on reserves, QE, etc. They are coming out in the fall.
I think the money multiplier is still a useful tool to help think about fractional reserve banking and the money supply (which that Bank of England pdf says as well). However, I agree that thinking about reserve levels as the binding constraint to lending is an incomplete picture of the modern economy. Hence why we're adding videos.
-Roman