The WaterBlog

Producing biofertilizers to promote circulation of money

by Meghna Mukherjee and Jean Marc Pace January 18, 2020 A couple of days back I was reading a book on Rethinking Money by Bernard Lietaer and Jacqui Dunne. As an economist, I was fascinated to reflect upon my own understanding of money and its importance. The authors have beautifully explained that in Economics, ‘Money’ has never been defined; we talk about it as a store of value, as a medium of exchange but never has money been defined on its own. At present, money is a scarce resource and it creates competition among each other (Lietaer and Dunne, 2013). And in this competition, where one individual is pitted against the other, few individuals emerge rich while many others remain poor. Traditionally, people belonging to higher social class like industrialists or businessmen invested their money to earn interests or gain profits by selling varied goods and services. They would hire people who would work for them in exchange of minimal… Continued