The amount of currency that is exchanged for a particular product or service is defined as the monetary value of that particular product.Today almost everything that is used by us for a purpose holds a monetary value. This monetary value is set by analyzing the demand and supply ratio of the particular product or service. Money and market have been into existence for thousands of years ever since people started exchanging products and services instead of cash.
Today in this article we are going to study how and why is money everything in this world? This is the most common topic that is allotted to students studying economics.
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Traditionally people followed the barter system where they used to exchange commodities with other essentials.
For example if a man had grains he gave them to a person who had clothes and took clothes in exchange for grains.But, things started changing after the 18th century.During the 19th century many nations that were industrializing such as England and Germany left the set pattern and shifted towards measuring the worth of products and services in dollars.
Until 1850 the progress of the country was measured through the moral statistics of the nation by the Americans on human grounds like- the crime rate, education percentage, average health condition along with the literacy and mortality rates.
Just after that new economic indicators were developed that gained a steady momentum which replaced the moral statistics and money landed up becoming the measure of everything because everything else boiled down to the same thing and that was financed.
This change could be noticed in almost every sector that was directly or indirectly related to the world economy. Be it natural resources technological discoveries, human beings, and even educational institutions evolved into assets that generated income for people. During the middle of the 19th century, capitalism was introduced in the nation. By the first few decades the United States landed up becoming a commercial society. Every resource was considered an asset
That measured according to their capacity to mint money and bring in high-quality returns.
The Basic Consequences Of Capitalization
• Capitalization turned into an important aspect of the economic indicators.
The affluent Americans who resided in the North and South portion of the United States started investing and building financial assets.
• The society was treated as a capitalized investment by them. They believed they could use the inhabitants of society to maximize their monetary growth.
• People who had excess money started investing in real estate, loans, bonds, mortgages, and other financial tools that helped them generate wealth.
• Some people also poured in money into organizations that constructed railways and roads.
There was a book written by the famous author Hinton Helper in the year 1857 which became a best seller because it was against slavery. The author had compared the prosperity of the North with the South based on the measurement of the cash value of agricultural produce.
People were considered as pieces of property in the United States for a long time.They were treated as income yielding investments. Money became the measure of everything in the progressive Era.It is a thought that persists even today to a large extent.
The Government reports, surveys are done by research organizations, and even the media generate news based on the monetary aspect of a particular incident to attract the audience.
Thus it can be said that monetization changed the entire face of the world not just in terms of physical gains but also affected the way people think. It gave a new angle to the measurement of the value of each and everything is it a good or a service, experience, expectations, or human emotions. Money could measure almost everything that needed to be measured.
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Education is also a sector in modern times where money became one of the key measuring factors when it came to measuring the quality of education imparted among students.
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