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Definition Of Money

Posted on: Januari 5, 2011

In the Traditional Economy Money is defined as any medium of exchange that can be accepted in general. Medium of exchange in the form of anything that can be accepted by everyone in the community in the process of exchange of goods and services.

In modern economics definition Money is sb:
According D.H. Robertson in his book Money, stated that the money is something that can be accepted in payment for goods.
According R.G. Thomas in his book Our Modern Banking explained money is something that is available and generally accepted as payment for the purchase of goods and services as well as other valuable property as well as for debt payments.
According A.C. Pigou in his book The Veil of Money, which meant money was the medium of exchange.

According to Money interpreted functions: money is a standard unit of value and as a delayed payment – do not help to determine the “objects” are included in the supply of money and which are not included, because these objects form of abstraction that can be connected with many other objects different “. (Stephen M. Golgfeld and Lester V. Chandler 11)

The definition of money according to law says that money is not satisfactory for the purposes of economic analysis. The reason, among others, that person may refuse to accept the things legally defined as money and may even reject
to sell goods and services to those who provide legal tender in payment. (Stephen M. Golgfeld and Lester V. Chandler 11)

According to George Simmel, money has the ability to transform or change the social world into the world of arithmetic, money is also a “means of reification of the most pure: because of the ability kalkulatifnya.

According to Emile Durkheim, the money can be understood as a social fact whose existence in society is free from personal motives, objective and even be forced on individuals.

Talcote According to Parsons, money not only as an instrument of economic but also symbolic language which is divided, this is not a commodity but a marker.

According to Zelizer, the money shows on the concept of “special monies. Most of the discussion about the money made by anthropologists are only dealing with other forms of primitive money.


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