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The Philosophy of Money (1900; German: Philosophie des Geldes) [1] is a book on economic sociology by German sociologist and social philosopher Georg Simmel. [2] Considered to be the theorist's greatest work, Simmel's book views money as a structuring agent that helps people understand the totality of life. [2]
In any technical subject, words commonly used in everyday life acquire very specific technical meanings, and confusion can arise when someone is uncertain of the intended meaning of a word. This article explains the differences in meaning between some technical terms used in economics and the corresponding terms in everyday usage.
Only if he loses four bags of grain will he start eating less; that is the most productive use of his grain. The last bag of grain is worth his life. In explaining the diamond-water paradox, marginalists explain that it is not the total usefulness of diamonds or water that determines price, but the usefulness of each unit of water or diamonds.
Most people dream about being "wealthy." Not having any financial worries seems like an unattainable reality for most Americans. With the elevated cost of housing, groceries and other everyday...
With obesity and diabetes at epidemic levels, the experts agree that America's diet is in serious need of reform. Even so, there are times when food criticism seems to wander away from the realm ...
“The word ‘budgeting’ brings up feelings of scarcity and restriction in people,” said life and money ... “When we see budgets as a way of prioritizing what we care about, we see that ...
Slang terms for money often derive from the appearance and features of banknotes or coins, their values, historical associations or the units of currency concerned. Within a language community, some of the slang terms vary in social, ethnic, economic, and geographic strata but others have become the dominant way of referring to the currency and are regarded as mainstream, acceptable language ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".