Wednesday, November 5, 2014

Harris Worthman, Chapter 10, Question 6

In chapter 10 of naked economics Charles Wheelan devalues the dollar in a single paragraph. Stating that the bills in your wallet are "just paper." He also stated that if you were on an island and had 1 million dollars you would quickly perish. If you were on an island and had the same value in gold you would be no better off. Money is an item used for trading, it's not supposed to have other uses. I understand his point but we are not children and money is a great idea. It was designed to be useless.

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