What Is Money?

No, seriously, what *is* money? 

One of our favorite questions from readers for Economics in Plain English was deceptively simple: What, after all, is money? And what sets it apart from something that's simply valuable? A big abstract idea like this called for a hands-on experiment.

In this episode, business editor Derek Thompson  pays a visit to a branch of EagleBank in Arlington, VA, to bother the world's friendliest bank teller with a series of dumb requests. As goofy as it seems, this little experiment is a helpful way to illustrate three essential functions of money: a store of value, a unit of account, and a medium of exchange. But you'll have to watch to see why.  

Don't miss Thompson's introduction to the project and the previous installments, which you can watch here.

Kasia Cieplak-Mayr von Baldegg is the executive producer for video at The AtlanticMore

Cieplak-Mayr von Baldegg joined The Atlantic in 2011 to launch its video channel and, in 2013, create its in-house video production department. She leads the development and production of original documentaries, interviews, and other video content for The Atlantic. Previously, she worked as a producer at Al Gore’s Current TV and as a content strategist and documentary producer in San Francisco. She studied filmmaking and digital media at Harvard University.

Life as an Obama Impersonator

"When you think you're the president, you just act like you are above everybody else."

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

VIdeo

Life as an Obama Impersonator

"When you think you're the president, you just act like you are above everybody else."

Video

Things Not to Say to a Pregnant Woman

You don't have to tell her how big she is. You don't need to touch her belly.

Video

Maine's Underground Street Art

"Graffiti is the farthest thing from anarchy."

Video

The Joy of Running in a Beautiful Place

A love letter to California's Marin Headlands

Video

'I Didn't Even Know What I Was Going Through'

A 17-year-old describes his struggles with depression.

More in Video

Just In