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Politics : PRESIDENT GEORGE W. BUSH
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To: Wayners who wrote (730738)3/10/2006 2:25:57 PM
From: CYBERKEN  Read Replies (1) of 769670
 
We need to remember that, not only is currency and coin becoming quaint, but our "money" is quickly transforming into digital blips running through the Internet.

That's not a bad thing. It makes our high-velocity economy possible, and allows for the creation of wealth in an order of magnitude far greater than if we needed to come up with gold and silver every time we wanted to buy something.

I had a professor who proposed that money is nothing but a communication device, and thus the more efficient its form is, the better an economy runs. Milton Friedman put it better: Not only is money our communication device, but it constitutes a continuous "vote", electing what we will produce, import, export, and spend our lives doing...
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