Citation-AnonymousStudent

In the article, “The Fiction That Makes The World Go Round”, author Richard Davies elaborates that the concept of money devolved from something physical to something much more imaginative. He words it as a “confidence trick”, saying that the only thing giving a $100 dollar bill its value is the faith that the bill is seen with that value by everyone else. Davies explains that this concept is what drives Jacob Goldstein’s “Money: The True Story of a Made-Up Thing”. In the book, Goldstein notes that money used to have true value when it was represented by commodities, such as valuable trading items like salt, or precious metals turned into coins. However as economies began transforming, the concept of currency shifted to one of perceived value, as opposed to physical value, forever utilized merely as the tools that drive our trades in society.

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