Money is a legal tender that is accepted for transaction of goods and services.Money is a medium of exchange,standard and store of value. But money also is the driver of economic growth.Milton Friedman got Nobel Prize in 1976 when he proved that an increase in the money supply in the economy spurred economic growth while a decrease in the money supply in the economy led to contraction in the economy. This increase in money supply however should be moderate so as to ensure that physical supply of goods and services are able to maintain pace with the increase in the supply of money or else it will lead to price rise as more money will be chasing fewer goods and services.
With the development of civilisation human beings realised that the old barter system of exchange of goods and services was unable to facilitate a fair exchange. After all how could one exchange foodgrains for clothes or fruits for animals. Thus a standardised system of comparison of value was required which resulted in the advent of money.
Initially money was in the form of coins; gold, silver or copper. But the storage was difficult. In 7th century A.D. Mohammad Tughlaq tried to introduce leather currency with his stamp but soon fake currency started doing the rounds and it was withdrawn taking the monetary system back to the coins of gold and silver.However as the quantity of coins posed the problem of storage and the monetary expansion required alternative forms of money, mankind came with the idea of paper money and thus the advent of currencies. The developments in banking and the emergence of Central Banks as the custodian of money supply led to different standards like gold standard for the limits on printing of currencies so as to maintain a fair exchange rate between different currencies.
A currency is the symbol of the sovereignty of a country. The purchasing power of a currency reflects the economic might of the country.Thus the US Dollar enjoys great confidence and value throughout the world as a safe haven for store of value. Other major currencies include the Euro, the British Pound, the Swiss Franc, the Japanese Yen and the Australian, Canadian and other dollars.
Money is required by Governments to run themselves, to pay for the welfare programs for their people, for investments in developmental activities, for defending their boundaries and therefore apparently money is very important for all countries and governments. Similarly money is very important for all individuals for meeting their day to day expenditure, for investing in their old age pension, for education of children etc. Thus how to make money has been historically a great challenge for all of us. Big corporations who have accumulated vast capital through centuries face a daunting task in maintaining their money making abilities on a regular basis or else they may go out of business. The new economy propelled by the power of computer and internet has given rise to a number of genius money makers who did not have huge historical capital but made billions of dollars with their brilliant ideas. The new technology also enables the ordinary people to make big amounts of money leveraging the reach and power of internet. This website has collected assorted resources from forex trading to internet marketing to affiliate businesses to enable the ordinary people make money.
