Question/Prompt:
Author Anna Schwartz writes this about money: “The U.S. money supply comprises currency—dollar
bills and coins issued by the Federal Reserve System and the Treasury—and various kinds of deposits
held by the public at commercial banks and other depository institutions such as savings and loans and
credit unions.” (Schwartz, n.d)
In this threaded discussion, complete the following:
1) Discuss the concept of money. Begin by defining the functions of money and explain how currency
meets these functions.
2) Historically, a number of things other than coin and currency have been used as money. Using
outside research, provide an example of something else that has been used as money, and explain
when and where it was used. Do not use the examples given in the text.
3) Think about how Scripture influences our attitudes and actions towards money. Which Bible verses
related to money challenge you the most? Which biblical concepts have helped form how you think
about and act with your money? Explain.
ECON 214
DISCUSSION BOARD FORUM INSTRUCTIONS
Discussion boards are collaborative learning experiences. Therefore, you will participate in 2
Discussion Board Forums throughout this course. Each thread must be at least 300 words and
contain at least 3 citations in current APA format. In addition to the thread, you are required to
reply to the threads of at least 2 classmates. Each reply must be at least 100 words and include at
least 1 citation in current APA format. Acceptable sources include newspapers, periodicals,
journals, textbooks, credible news websites (NPR, BBC, etc.), and the Bible. Sources such as
Wikipedia, About.com, thebalance.com, book reviews, and blogs are prohibited.
This course utilizes the Post-First feature in all Discussion Board Forums. This means you will
only be able to read and interact with your classmates’ threads after you have submitted your
thread in response to the provided prompt. For additional information on Post-First, click here
for a tutorial.
Submit your Discussion Board Forum 1 thread by 11:59 p.m. (ET) on Friday of Module/Week 1,
and submit your replies by 11:59 p.m. (ET) on Monday of the same module/week.
Submit your Discussion Board Forum 2 thread by 11:59 p.m. (ET) on Friday of Module/Week 7,
and submit your replies by 11:59 p.m. (ET) on Monday of the same module/week.
(Last Name) 1
(Discussion Post Anna Schwartz)
(Institutional Affiliation)
(Your Name)
(Instructor Name)
(Course Number)
(Due Date)
(Discussion Post Anna Schwartz)
(Last Name) 2
The definition of ‘money is multifaceted and has been debated amongst economic
scholars and government officials for decades. Traditionally, money included mediums such as
silver, gold, and paper dollars, with the latter gaining more significance after President Richard
Nixon decided to take the United States off the ‘gold standard’ (Schwartz, n.d.). Money serves as
the foundation upon which all current social systems reside upon. For example, its function, at
the core, is to demonstrate a commodity of value and is necessary for transactions and commerce
to occur. Paper currency, for example, takes the role of ‘value’ through the denominations,
interest rates, circulatory environment, and purchasing power.
As noted, the historical understanding of money differs depending on the cultures and
contexts one is examining. Other than the traditional forms of silver and gold coins or paper
currency, other notable mediums exist. One prominent example is cattle and other livestock as a
form of currency because it was a valuable asset at the time. However, one interesting form of
money resides in the history of Native Americans and the use of wampum, which “are strings of
beads made from clam shells” and was used by North American Indians dating back to 1535
(Nova, 1996). The use of wampum demonstrates the wide variety of currencies used because
money is simply an item that is prescribed a form of value by society that engages in its
transactions.
The Scripture is a quintessential element to one’s worldview of money and material
things. Various writings demonstrate relation to money, gratitude, charity, and serving the Lord
throughout the Scripture. Nonetheless, in Matthew 6:24, it says, “No one shall serve two masters,
for either he will hate the one and love the other, or he will be devoted to the one and despise the
other. You cannot serve God and money.” This element in Matthew demonstrates the
fundamental dichotomy between allegiance to money and material wealth and commitment to
(Last Name) 3
following the word of Christ. The Scripture has helped me disassociate the wealth I obtain with
physical or spiritual importance because I believe that my deep and unfounded belief in Jesus
Christ is all I need to fulfill happiness in my life. This is not to say that money is not a vital
element to comfortability; it merely does not prioritize my pursuit of fulfillment and essence in
my personal life.
References
Nova. (1996, October 26). The History of Money. NOVA | PBS.
https://www.pbs.org/wgbh/nova/article/history-money/
Schwartz, A. S. (n.d.). Money Supply. Econlib. Retrieved August 11, 2021, from
https://www.econlib.org/library/Enc/MoneySupply.html
