Money in the modern world


THE Bank of England (BoE) has recently published two articles in its quarterly bulletin on “Money in the Modern World” and “How Money is Created” (http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q102.pdf).

The first should be compulsory reading in schools because it is simple and clear explanation of what money is all about. The second is a more technical explanation of how money is created – surprise, surprise – the central bank is not fully responsible! The textbooks tell us that money should have three key attributes – a store of value, unit of account and medium of exchange.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , viewpoint

   

Next In Business News

Businesses concerned about rising forex woes
Booming eCommerce bolsters consumption
Sasbadi reports record high quarterly revenue on robust sales
LME takes aim at traders’ Russian metal games with new rules
Helping more city-state F&B businesses to expand overseas
Funds raised by Singapore’s tech startups up 59% in 2023
Fernandes on board Capital A for five more years
China’s prices are too low for buyers to sweat about tariffs
UK firms told to ‘urgently review’ green claims
Meta Bright signs RM25mil leasing contract

Others Also Read