The Trap of Debt Economics [1]

By Alan Adaschik [2]
Guest Writer for Wake Up World

Money is a medium of exchange and the study of its use is called economics. In days gone by bartering was the order of the day. If you had corn and wanted wheat, and I had wheat and wanted corn, we would decide how much of one commodity was equivalent to the other and make an exchange on this basis. However, bartering is an awkward process because of the unwieldy items and commodities involved. Obviously, exchanges of goods would be facilitated if people used something less cumbersome as a medium of exchange such as gold or silver. If I grow wheat, by exchanging my wheat for gold it will allow me to obtain other things more conveniently when I want them. Thus metals like gold and silver became our first widely used mediums of exchange.