https://wiki.objectivismonline.com/index.php?action=history&feed=atom&title=MoneyMoney - Revision history2026-07-02T05:36:39ZRevision history for this page on the wikiMediaWiki 1.39.2https://wiki.objectivismonline.com/index.php?title=Money&diff=8881&oldid=prev74.70.62.96: start of the page2007-07-21T06:59:06Z<p>start of the page</p>
<p><b>New page</b></p><div>Money is an item, usually in the form of a coin or paper, which chiefly has value as a medium of exchange.<br />
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Before the concept of money was invented, mankind used the barter system. This was less efficient, as any given item's economic value is subjective. For example, if a farmer wanted a cart but only had his cows' milk to trade, he would have to find someone who both had a cart for trade and wanted milk. With money, the farmer only needs to find someone with a cart for sale.<br />
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Money comes in three forms: commodity, fiat, and credit.<br />
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== Commodity Money ==<br />
Commodity money generally uses precious metals such as gold and silver (many people refer to an economy using commodity money as a "Gold Standard"). Commodity money is generally thought of as the most stable form, as the supply cannot be expanded at whim, although the supply can expand if a significant amount of the commodity enters the economy.</div>74.70.62.96