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Chapter 1: Money

Money appears because direct barter rarely works: you need someone who has what you want and wants what you have, at the right size, place and time. People solve this by holding a widely accepted good. The author introduces the idea of salability: how easily a good can be sold across time, space and scale, and argues the best money is the one that holds value over time, which depends on how hard it is to produce more of it.

Summary in our own words, not a quote from the book. The author's arguments, not investment advice. Book · Author's course