Most things in life--- automobiles, lovers, cancer --- are essential only to those who have them. Money, in contrast, is equally important to those who have it and those who don't. Both accordingly have a concern for understanding it. Both should proceed in the complete confidence that they can.", so writes John Kenneth Galbraith in his famous book “Money: Whence It Came, Where It Went.”
But what is money? This question may seem obvious at first glance; however, as we discover in this episode, there is more to it than meets the eye. Some claim that we are now entering a new monetary world with cryptocurrencies like Bitcoin. To make sense of all of this, this week the dialectic goes to work to explore the question of 'money' with Prof. Wolff.