Money
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given socio-economic context or country. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment. Any kind of object or secure verifiable record that fulfills these functions can be considered money.
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Famous quotes containing the word money:
“The secret point of money and power in America is neither the things that money can buy nor power for power’s sake ... but absolute personal freedom, mobility, privacy. It is the instinct which drove America to the Pacific, all through the nineteenth century, the desire to be able to find a restaurant open in case you want a sandwich, to be a free agent, live by one’s own rules.”
—Joan Didion (b. 1934)
“When it comes to money nobody should give up anything.”
—Anthony Trollope (1815–1882)
“Short of a wholesale reform of college athletics—a complete breakdown of the whole system that is now focused on money and power—the women’s programs are just as doomed as the men’s are to move further and further away from the academic mission of their colleges.... We have to decide if that’s the kind of success for women’s sports that we want.”
—Christine H. B. Grant, U.S. university athletic director. As quoted in the Chronicle of Higher Education, p. A42 (May 12, 1993)