The use of money as a medium of exchange enables people to do business with one another without a a means of want otherwise.
People hold money because they want to exchange goods and services without possessing the goods and services in which to barter. "so money is not only a medium of exchange, but also a store of value." The value is in the fact that people rather>>> being self sufficient
You either trade in the market, or become self sufficient with a sense of reciprocity within your immediate society, community.
Lives constructed around the world differ significantly. Facing different futures due in a great deal to where you are born. Different opportunities and obstacles greatly determine your believe of what you are able to do and who you can become.
"Economics in great measure tries to uncover the processes that influence how people 's lives come to be what they are." (7) Economics also tries to identify and influence those processes; How are things allocated? By age, gender, status, role, history...
"In various degrees, the millions of individual decisions shape the eventualities people face" (8) Ah, Consequences! The millions of small contributions (whether driving or burning dung for fuel) add to the whole. They create the whole picture. Actions create feedback loops. Positive or negative cause and effects.
A role: economists try to uncover reasons why events in a specific place unfold the way they do; identifying key drivers.
I want to uncover why the standard of living is so much lower in some parts than in others, and if a balance can be designed and created. Why I care so much about balance? Survival of the fittest, or compassion for everyone?
there exist a multitude of alternative models on social phenomena. In Buddhism we are encouraged to cut out the delusion, and see phenomena clearly.
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