Why does money exist? From the 10 insights on today's news that will make you smarter tomorrow series M. Saif Mehkari, Associate Professor of Economics, University of Richmond Sep 26, 2022 Sep 26, 2022 Updated Sep 27, 2023 0 Facebook Twitter Bluesky WhatsApp SMS Email Print Copy article link Save Cash is pretty convenient. Dilok Klaisataporn/EyeEm via Getty Images kAmk6>mk2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^FD^E@A:4D^4FC:@FD\<:5D\FD\fcfhdQmrFC:@FD z:5Dk^2m :D 2 D6C:6D 7@C 49:=5C6? @7 2== 286D] x7 J@F 92G6 2 BF6DE:@? J@F’5 =:<6 2? 6IA6CE E@ 2?DH6C[ D6?5 :E E@ k2 9C67lQ>2:=E@i4FC:@FD<:5DFDoE964@?G6CD2E:@?]4@>Qm4FC:@FD<:5DFDoE964@?G6CD2E:@?]4@>k^2m]k^6>mk^Am People are also reading… Shenandoah former corrections worker sentenced to 2 years for sexual misconduct Shenandoah's McGargill signs with Mary Wrestling Clarinda's Wellhausen signs with Buena Vista Volleyball Two champions ready for final run for Shenandoah Track and Field Nurse found work in Shenandoah while board’s disciplinary findings remained secret Pickens, Fillies 2nd at CBAL, Dowling, Cowgirls 3rd at home tourney Clarinda girls win rain-shortened Cardinal Relays Shenandoah's Babe signs with SWCC Baseball Sidney boys track and field continues to work while waiting for first meet Martin, Pickens lead Shenandoah golf to home wins Clarinda girls, Shenandoah boys win golf openers Full RAGBRAI 2026 route revealed, showcasing small-town Iowa Iowa DOT plans open house to discuss roundabout at Highways 59, 2 near Shenandoah Shenandoah's Twyman signs with SWCC Baseball Iowa Highway 2 east of Sidney to close April 20 for pavement replacement k9C ^mk3=@4<BF@E6mkAmkDEC@?8m(9J 5@ >@?6J 2?5 EC25:?8 6I:DEn – '2?6DD2 r][ 286 `_[ v:=36CE[ pC:K@?2k^DEC@?8mk^Amk^3=@4<BF@E6mk9C ^mkAmx>28:?6 2 H@C=5 H:E9@FE >@?6J] (:E9 ?@ H2J E@ 3FJ DEF77[ J@F >:89E ?665 E@ AC@5F46 6G6CJE9:?8 J@F H62C[ 62E @C FD6 F?=6DD J@F 4@F=5 7:8FC6 @FE 9@H E@ DH2A D@>6 @7 E96 E9:?8D J@F >256 7@C @E96C :E6>D]k^AmkAmyFDE >2<:?8 2 49:4<6? D2?5H:49 H@F=5 C6BF:C6 DA6?5:?8 >@?E9D C2:D:?8 96?D 2?5 8C@H:?8 J@FC @H? =6EEF46 2?5 E@>2E@6D] *@F’5 ?665 E@ 4@==64E J@FC @H? D62H2E6C E@ >2<6 D2=E]k^Am kAm*@F H@F=5?’E ;FDE 92G6 E@ 32<6 E96 3C625 7@C J@FC D2?5H:49] *@F’5 ?665 E@ 8C@H E96 H962E[ >:== :E :?E@ 7=@FC 2?5 7:8FC6 @FE 9@H E@ >2<6 E96 5@F89 C:D6 H:E9@FE DE@C6\3@F89E J62DE @C 32<:?8 A@H56C]k^AmkAmp?5 J@F >:89E 92G6 E@ 3F:=5 J@FC @H? @G6?[ A6C92AD 7F6=65 3J H@@5 J@F 49@AA65 J@FCD6=7 27E6C 76==:?8 D@>6 EC66D] x7 E92E @G6? 3C@<6[ J@F’5 AC@323=J ?665 E@ 7:I :E @C 3F:=5 2?@E96C @?6 J@FCD6=7]k^AmkAmtG6? :7 J@F D92C6 E96 3FC56? @7 86EE:?8 2== E9:D 5@?6 H:E9 >6>36CD @7 J@FC 72>:=J[ :E H@F=5 36 :>A@DD:3=6 7@C 2 D:?8=6 72>:=J E@ :?E6C?2==J AC@5F46 2== E96 8@@5D 2?5 AC@G:56 2== E96 D6CG:46D 6G6CJ@?6 :D FD65 E@ 6?;@J:?8]k^Am kAm%@ >2:?E2:? 2?JE9:?8 =:<6 E@52J’D DE2?52C5 @7 =:G:?8[ J@FC 72>:=J H@F=5 ?665 E@ :?4=F56 2 72C>6C[ 2 5@4E@C 2?5 2 E62496C] p?5 E92E’D ;FDE 2 DE2CE]k^Am This account of making a sandwich ‘completely from scratch’ in six months required a lot of machines built by others. k9am$A64:2=:K:?8 2?5 32CE6C:?8k^9amkAmk2 9C67lQ9EEADi^^D49@=2C]8@@8=6]4@>^4:E2E:@?DnFD6Cl)v?*};DppppyU2>Aj9=l6?Qmt4@?@>:DED =:<6 >6k^2m 36=:6G6 E92E FD:?8 >@?6J >2<6D :E 2 =@E 62D:6C 7@C 6G6CJ@?6 E@ DA64:2=:K6[ 7@4FD:?8 E96:C H@C< @? 2 DA64:7:4 24E:G:EJ]k^AmkAmp 72C>6C :D 36EE6C 2E 72C>:?8 E92? J@F 2C6[ 2?5 2 32<6C :D AC@323=J 36EE6C 2E 32<:?8] (96? E96J 62C? >@?6J[ E96J 42? A2J @E96CD 7@C E96 E9:?8D E96J 5@?’E AC@5F46 @C 5@]k^Am kAmpD k2 9C67lQ9EEADi^^HHH]:?G6DE@A65:2]4@>^E6C>D^4^4@>A2C2E:G625G2?E286]2DAQm64@?@>:DED 92G6 <?@H?k^2m D:?46 k2 9C67lQ9EEADi^^HHH]:?G6DE@A65:2]4@>^E6C>D^5^52G:5\C:42C5@]2DAQms2G:5 #:42C5@’Dk^2m H@C< :? E96 `hE9 46?EFCJ[ E96C6 2C6 82:?D 7@C 6G6CJ@?6 7C@> 6I492?8:?8 8@@5D 2?5 D6CG:46D – 6G6? H96? J@F 6?5 FA A2J:?8 D@>6@?6 H9@ :D =6DD D<:==65 E92? J@F] qJ >2<:?8 E96D6 6I492?86D 62DJ E@ 5@[ >@?6J >2<6D :E A@DD:3=6 E@ 4@?DF>6 >@C6]k^Am kAm!6@A=6 92G6 EC2565 8@@5D 2?5 D6CG:46D H:E9 @?6 <:?5 @7 >@?6J @C 2?@E96C[ H96E96C :E H2D EC:?<6ED[ D96==D[ 4@:?D 2?5 A2A6C 42D9[ 7@C k2 9C67lQ9EEADi^^E964@?G6CD2E:@?]4@>^H96?\2?5\H9J\5:5\A6@A=6\7:CDE\DE2CE\FD:?8\>@?6J\fgggfQmE6?D @7 E9@FD2?5D @7 J62CDk^2m]k^Am kAm!6@A=6 92G6 2=H2JD @3E2:?65 E9:?8D H:E9@FE >@?6J E@@[ k2 9C67lQ9EEADi^^HHH]:?G6DE@A65:2]4@>^E6C>D^3^32CE6C]2DAQmFDF2==J E9C@F89 32CE6Ck^2m] xE :?G@=G6D DH2AA:?8 D@>6E9:?8[ DF49 2D 2 4@@<:6 @C 2 >2DD286[ 7@C D@>6E9:?8 6=D6 – =:<6 2 A6?4:= @C 2 92:C4FE]k^AmkAmq2CE6C:?8 D@F?5D 4@?G6?:6?E] xE 42? 36 7F? :7 J@F 6?;@J 9288=:?8] qFE :E’D 92C5 E@ AF== @77]k^AmkAm{6E’D D2J J@F’C6 2 42CA6?E6C H9@ >2<6D 492:CD 2?5 J@F H2?E 2? 2AA=6] *@F H@F=5 AC@323=J 7:?5 :E :>A@DD:3=6 E@ 3FJ @?6 3642FD6 2 492:C H@F=5 36 D@ >F49 >@C6 G2=F23=6 E92? E92E D:?8=6 A:646 @7 7CF:E] p?5 ;FDE :>28:?6 H92E 2 92DD=6 :E H@F=5 36 E@ 92F= D6G6C2= @7 E96 492:CD J@F’G6 >256 E@ E96 D9@AA:?8 >2== :? E96 9@A6D @7 4FEE:?8 8C62E 562=D E9C@F89 32CE6C H:E9 E96 G6?5@CD J@F’5 7:?5 E96C6]k^Am kAm!2A6C >@?6J :D 72C 62D:6C E@ 42CCJ] *@F >:89E 36 23=6 D6== 2 492:C 7@C[ D2J[ Sd_] *@F 4@F=5 E2<6 E92E Sd_ 3:== E@ 2 DFA6C>2C<6E[ 3FJ EH@ A@F?5D @7 2AA=6D 7@C Sd 2?5 <66A E96 Scd :? 492?86 E@ DA6?5 @? @E96C DEF77 =2E6C] p?@E96C 25G2?E286 >@?6J 92D @G6C 32CE6C:?8 :D E92E J@F 42? FD6 :E >@C6 62D:=J E@ DE@C6 J@FC H62=E9 2?5 DA6?5 :E =2E6C] $E2D9:?8 D:I Sd_ 3:==D E2<6D FA =6DD C@@> E92? DE@C:?8 D:I F?D@=5 492:CD]k^AmkAm}@H252JD[ @7 4@FCD6[ >2?J A6@A=6 A2J 7@C E9:?8D H:E9@FE 42D9 @C 4@:?D] x?DE625[ E96J FD6 4C65:E 42C5D @C >2<6 @?=:?6 AFC492D6D] ~E96CD D:>A=J H2G6 2 D>2CEH2E49 2E 2 56D:8?2E65 56G:46] ~E96CD FD6 3:E4@:?D 2?5 @E96C 4CJAE@4FCC6?4:6D] qFE 2== @7 E96D6 2C6 ;FDE 5:776C6?E 7@C>D @7 >@?6J E92E 5@?’E C6BF:C6 A2A6C]k^Am kAm}@ >2EE6C H92E 7@C> :E E2<6D[ >@?6J F=E:>2E6=J 96=AD >2<6 E96 EC25:?8 @7 8@@5D 2?5 D6CG:46D 8@ >@C6 D>@@E9=J 7@C 6G6CJ@?6 :?G@=G65]k^Am k9C ^mkAmk6>mw6==@[ 4FC:@FD <:5DP s@ J@F 92G6 2 BF6DE:@? J@F’5 =:<6 2? 6IA6CE E@ 2?DH6Cn pD< 2? 25F=E E@ D6?5 J@FC BF6DE:@? E@ k2 9C67lQ>2:=E@i4FC:@FD<:5DFDoE964@?G6CD2E:@?]4@>QmrFC:@FDz:5D&$oE964@?G6CD2E:@?]4@>k^2m] !=62D6 E6== FD J@FC ?2>6[ 286 2?5 E96 4:EJ H96C6 J@F =:G6]k^6>mk^Am kAmk6>mp?5 D:?46 4FC:@D:EJ 92D ?@ 286 =:>:E – 25F=ED[ =6E FD <?@H H92E J@F’C6 H@?56C:?8[ E@@] (6 H@?’E 36 23=6 E@ 2?DH6C 6G6CJ BF6DE:@?[ 3FE H6 H:== 5@ @FC 36DE]k^6>mk^Am kAmk:>8 DC4lQ9EEADi^^4@F?E6C]E964@?G6CD2E:@?]4@>^4@?E6?E^`ggd_a^4@F?E]8:7Q 2=ElQ%96 r@?G6CD2E:@?Q H:5E9lQ`Q 96:89ElQ`Q ^mk^Am kA 4=2DDlQ7:?6\AC:?EQmk6>m|] $2:7 |69<2C: 5@6D ?@E H@C< 7@C[ 4@?DF=E[ @H? D92C6D :? @C C646:G6 7F?5:?8 7C@> 2?J 4@>A2?J @C @C82?:D2E:@? E92E H@F=5 36?67:E 7C@> E9:D 2CE:4=6[ 2?5 92D 5:D4=@D65 ?@ C6=6G2?E 277:=:2E:@?D 36J@?5 E96:C 24256>:4 2AA@:?E>6?E]k^6>mk^Am kA 4=2DDlQ7:?6\AC:?EQmk6>m000k^6>mk^Am In this Series 10 insights on today's news that will make you smarter tomorrow Updated Feb 6, 2023 Lost touch with someone? Reach out – your friend will likely appreciate it more than you think Updated Feb 6, 2023 More young voters could come out to vote in November, sparked by abortion and other hot political issues Updated Feb 6, 2023 US abortion restrictions are unlikely to influence international trends, which are largely becoming more liberal 174 updates Previous Next 0 Comments The business news you need Get the latest local business news delivered FREE to your inbox weekly. Sign up! * I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy. Related to this story
Cash is pretty convenient. 
