Religion & Liberty: Money Matters

In the most recent issue of Religion & Liberty, I explain why money matters:

Now imagine that Maggie has a cow in a monetary economy. She sells her cow for the best price she can find and receives that price in money. With that money, she can then go and buy all the things she needs and can afford. She isn’t stuck exchanging a lasso for some turnips with the hope that she can then exchange the turnips for something she actually wants and needs. Maggie can’t cut a chicken into parts and keep the gizzard with the expectation that someone will be willing to trade two apple pies for that gizzard later. But she can sell a chicken for some money and then use the money to buy any variety of things she wants or needs, whenever she needs them. Money serves a vital human need by helping economic exchange better serve other human needs.

Clearly my understanding of farming is unhealthily shaped by Western films, Little House on the Prairie, and that Oregon Trail computer game.

Read the whole article here.