Homer Simpson : “Bart, with $10,000 we’d be millionaires; we could buy all sorts of useful things ... like love!” (“Bart Gets an Elephant”). Homer is right (sort of). Money is something that is generally accepted as a means of payment for goods and services. It functions as a medium of exchange, a unit of account, and a store of value. Milhouse Van Houten: “I can’t go to juvey! They use guys like me as currency!” (“Trilogy of Error”). Actually, Milhouse does not possess the properties that would make a good candidate for money. Money arises from commodities that are widely-valued, portable, divisible, and durable. Homer: “I can’t print my own money!” (“Half-Decent Proposal”). Right again, Homer! But it’s not only the government that can print money. In fact, private banks create the majority of new money in the US.
|Title of host publication||Twenty Dollars Can Buy Many Peanuts! Money and The Simpsons|
|Publisher||"Homer Economicus: The Simpsons and Economics" Stanford University Press|
|State||Published - May 2014|