Currency!

Ok firstly, let me say that this blog will also keep track of some random observations that I find interesting, so here's the first one!

Lately, I have become obsessed with money. No, I don't mean I'm hoarding money. I mean the concept of money. I find the economy to be a fascinating thing. I also find money to be fascinating. Everyone takes money for granted. But when you really think about it, it's amazing that so many people have just "assigned" something so arbitrary (stamped metal pieces, paper with ink on it, and electromagnetic patterns in a computer) with such a well defined unit of value. What's more amazing is that money truly represents value. For example, if we have two bowls that are exactly the same, but one you found on the street a minute ago and one was given to you as a present from you mother, you'd value the one from your mother more. But this nearly never happens with money. True, a specific dollar bill may have a special significance, but I am talking about units of money, like the money in a bank account where every dollar is the same. A dollar value that you would sell the two different bowls for would represent the actual value, both material and personal, of an object.

I am also amazed at the exacting nature of money. For example, when we receive change, we expect the exact change to the nearest cent. But truly, how much is one cent worth? (It may be worth more in other parts of the world, but then they have their own currencies divided up in to units that are worth even less) A cent is nearly worthless, but because of the exacting nature of money, we still use such an insignificant unit! Was there every such a thing before money when you can describe exactly how much something is worth to another party?

Also, I find it interesting that so many currencies are divided up into 100 subunits. For example, a dollar is divided up into 100 cents. A Chinese Ren Min Bi (Yuan) is divided up into 100 Fen. Why not just call the subunit the unit? Why not label everything in their cost in cents and just forgo the dollar? This seems to work well in many places where a unit of currency is less valuable. For example, you don't see any "cents" in Japan because their "dollar" is effectively their "cent." I just find it strange that most places use a unit for their currency, but also have subunits.