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Decem: Financial Alternatives for Development Aid (9)

Written on December 11, 2007 by Max Oliva in Development

J.Pozuelo-Monfort, MPA candidate at Columbia University
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The history of money dates back from the old days when barter preceded the buy and sell of goods in exchange of coins that were worth the monetary value they represented. Money is an abstract concept that we handle on a daily basis in a variety of transactions, without being aware of what it would be of our existence without it. Money allows to save and as a result to transfer monetary flows over time. Money transforms effort into coins and notes and allows to work today for the joy of tomorrow, turning our dedication into a monetary flow we can accumulate, transfer and spend anywhere anytime. As a second-generation payment vehicle, money enjoys structural features that barter lacked, faltering in many other aspects that we explain hereafter.
Many speak of the end of coins and notes as a means of payment, and predict a medium term future in which we will pay with electronic money in all of its varieties, an outcome perhaps feasible in the more advanced societies in which a majority of the population can access a current account. Access to basic financial services is an almost universal right that not everyone is granted, particularly in developing countries. Not being able to access basic financial services withdraws us from the possibility of transforming our effort into money, exempts us from the opportunity of moving forward on our own, and expropriates us the ability to become economically self-reliant. The third generation of payment vehicles is related not only to electronic money, but also to a currency immune to speculation, arbitrage, depreciation and hyperinflation, accessible to whomever is willing to save, and available to the poor in a majority of developing countries.
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Comments

abdulsar@hotmail.com February 8, 2008 - 6:23 am

Salut
WE PAY ENOUGH TAXES so that Governmnet and monpolist also around the world should PARTY.CIPATE WITH ENVIRONMENTal CAUSAS.
Boujour a tout le monde, vraiment! noud devons propager l’dee de l’atmosphere,nous tous nous savons que c’est un vieux monde mais heureusement qu’il se recycle elle meme. Le monde apparent , les films et toute les ideologies scientifiques nous permettent de demontrer la logique dans l’usage tangibles des resources naturelles renouvelables.Meme dans le koran et dans la bible aussi et dans la thorah, l’evangile, Dieu nous demontre la creation de ces univers et de leurs contenus. Al Gore , I have a lot of respect for him-God Bless him, not a lot people and politicians do not give up a presidency and a discreet oval room. to create propaganda around the real issue here– the next after this one wil have to make serious, serious decisions– this philosophers are no philosophers anymore they capture other romantic ideals that are not require into the divine table. the environment and business around environment is the best way to recycle the whole world at the same cycle. good bye

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