money
Econimist Ken Rogoff: It’s Time to Reduce Physical Cash
Harvard professor and renowned economist Ken Rogoff has said that to tackle tax evasion and illicit activities the amount of physical cash around the world needs to be reduced. Speaking to CNBC, Rogoff said that cash provided the ideal avenue for tax evasion. He said: The evidence, I think, is overwhelming that that is a […]
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12 Types Of Currency Throughout History You Could Eat, Drink or Smoke
Earlier this month a regional court in Moscow ruled that farmer Mikhail Shlyapnikov could not print or use his own currency. Shlyapnikov plans to appeal the ruling. The farmer introduced his own type of exchange unit, kolions, to insulate his village from economic turmoil. The currency name comes from his village, Kolionovo, and was pegged to the potato, with one kolion equaling 10 kilograms of potatoes which could be exchanged for labor or other food. Shlyapnikov, who was formerly a Moscow business man, left the business world for farming 10 years ago. He doesn’t call kolions money. Instead, loan receipts. Shlyapnikov’s […]
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Why Bitcoin Qualifies as Money while the Dollar is just Currency
As national fiat currencies slowly, but surely, fall by the wayside, or get outright replaced by digital currencies, its time to review the advantages of using Bitcoin as money going forward. Currency and money are not the same things, they just have many of the same properties. The textbook definition in your dictionary may even […]
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