In disparate forms, money has been a constant feature during thousand of years of human history. Both precious and useless at the same time, money represents value, wealth, and power and yet materializes itself in substances (such as shells, paper, and gold) that are practically useless and even condemned King Midas to death. What do economists mean when they speak of the cost of money and its purchasing power? What is a financial crisis? Why is one countrys money stronger than anothers? How can a monetary phenomenon such as the advent of the euro affect Europeans welfare? What is electronic money? This book explains basic concepts that will help even the most inexperienced reader understand and appreciate money and its technical aspects.
Andrea Terzi teaches Economics at Franklin College Switzerland (Lugano) and Monetary Economics at the Catholic University of Milan.