Dr Rajiv Desai
An Educational Blog
MONEY
Money: _ ____ Section-1 Prologue: Somebody once asked the late bank robber named Willie Sutton why he robbed banks. He answered: “That’s where the money is.” Money is something we encounter in every facet of our daily lives. The first thing that springs to mind for most of us when we hear the word “money” is coins and banknotes. We talk about “making money” when we refer to our income. We say that we are “spending money” when we go shopping. For major purchases we sometimes have to “borrow money” by taking out a loan, either from someone we know or from a bank. It is no accident that the term “money” gets used in so many different ways: it is a reflection of the myriad functions that money performs in our economic lives. _ Money is one of the fundamental inventions of mankind. Economists say that the invention of […]
