Econ – What is the function of money?

What is money?

Why do we have money?

What are some alternatives to money?

How is money regulated?

How is the money supply determined?

What is Fiat money? What is the Gold/silver standard?

How does the money supply effect banks?

American Dream film

Keynes vs Hayek

 

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14 thoughts on “Econ – What is the function of money?

  1. Keynesian
    Pros: Helped end recession, lower unemployment, can prevent big failures
    Cons: Takes lots of money, may not provide what people want, only a few make decisions

    Austrian
    Pros: Faster growth, make what people want, we fix the economic problems ourselves, potential for prosperity
    Cons: Could have higher unemployment, not much government control

  2. Kinesean
    Pros
    Makes the people happy
    Everyone can get services
    Doesn’t have to make money

    Cons
    You have to pay for things you don’t want
    does not make money

    austrian
    Pros
    People can invest and get their money back
    people don’t have to pay for things they don’t want

    Cons
    People can’t afford some services
    They might lose money

  3. Keynesian Economics- This technique helped with the great depression and helps with money problems. It makes the cost of things lower. It makes everyone’s life easier. It also helps give people jobs. The problem with this technique is that the government gets to choose everything.

    Austrian Economics- This technique has less government control and is a more “Organic” way of running things. Everyone gets to choose what he or she wants but the prices for things are higher.

  4. Kianes
    Pros: Cons:
    -not in a depression – Had to ration everything
    -Creates employment – Went to war
    -Helps suffering people – Spends a lot of money

    Australian
    Pros: Cons:
    – Creates what people need – Has loss of money
    -Creates how much they need
    – Has profit

  5. Austrian
    Pro
    Control your own money
    Everyone chooses

    Con
    Tends to fail the economy and cause depression

    Keynesian
    Pro
    Not in depression

    Con
    Works best during war
    One person

  6. Key- Keynesian thinks that we should use the money that we have to try to get job growth and to help the economy grow. He also thinks that the higher people up should make the major decisions and the plans for the economy.

    Aus- Thinks that the people can do a better job by putting their ideas out there rather than having a few people do it that would only really help those people. It also thinks that the economy should be able to prosper on steady, consistent stocks.

  7. Kaynesian Economics
    Pros Help out Bale out the people
    Cons inflation

    Austrian Economics
    Pros makes the people happy
    Cons almost no government control

  8. Keynesian-
    Pro: you can get services and make money
    Con: you can’t always make money

    Austrian-
    Pro: They make what you want
    Con:A lot of people probably can’t afford the services they need.

  9. Keynesian
    Pros- Lowers unemployment and prevents failures
    Cons- It’s a lot of money

    Austrian
    Pros- Has what people want and it grows fast
    Cons- Possibility to loose money

  10. Keynesian
    Pros: Gave more people jobs, ended recession, can stop big failures
    Cons: Only a few people to choose everything

    Austrian
    Pros: A lot of people get a say in the decisions, faster growth, fix the problems we want to fix
    Cons: Higher unemployment, little government control

  11. Keynes
    Pros. Does what they can to fix the situation, lowers unemployment
    Cons. Only happens when there is a revolution, went to war, spends a lot of money

    Austrian
    Pros. Profitable, finds a valuable way to serve others
    Cons. loses money, less government control

  12. What is money? ~ Money is used to purchase things. It’s used as a trade. We give them money and they give us a product or service.

    Why do we have money? To purchase either goods or services

    What are some alternatives to money? Trading goods.

    How is money regulated? The federal reserve

    How is the money supply determined? By the federal reserve. They decide how much money gets printed.

    What is Fiat money? What is the Gold/silver standard? The government gives a certain value to money. The government decides how much the money is worth and how much your gold is worth in money.

    How does the money supply effect banks? When the banks run out of money they ask the federal reserve for money and then they print more for the banks.

  13. Money is what we use to purchase things. We use money to but things. Some good alternatives to money is being traded. The Federal decides what and how much money is getting printed. Fiat money is being controlled by what and how much it is worth. The money supply effects the banks when they banks run out of money they ask for more and they print more for them.

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