Because of the importance of money and banking in our economic system and the consistent misunderstanding of the role that it plays, I decided to create this series devoted to Money.

Money plays such a ubiquitous role in economic activity that we barely notice its existence, and we certainly overlook its importance. Virtually every transaction that we conduct in our economy occurs based on money, and all the economic data used for interpreting economic activity is couched in terms of money prices. One might even say that to not understand money and its role in the economy is to not understand the economy at all.

In this series, I will cover:

• The Definition of Money
• The Purpose of Money
• The Measure of Money Value
• The Source of Money Value
• Money Prices
• Monetary Expansion
• and other important topics, including the role of the Federal Reserve which tend to be misinterpreted or misunderstood by many people.