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Many people are familiar with what money does: it provides for a unit of account, it facilitates mutual exchange, and it acts as a store of value. But what exactly is money? Money is a societal agreement. It is an agreement to accept something as a medium of exchange. Further, money is recognition of value and contribution to society; in order to get money, one must add value and contribute to society.

Money is not a neutral entity. It reflects values. The choice of money has consequences. Just like air, money too, is part of the environment. If the air were to become contaminated, it would adversely affect society. Similarly, if the choice of money is not well thought out, it too can have detrimental effects on society.

It is important to remember that money by itself can be rather worthless. Pieces of paper or gold will do an individual little good when stranded on an island by themselves. Money exists in a context. As situations change, so too must perspectives on money.

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