Neuroscience

Oxytocin spreads cooperation in social networks

Administering oxytocin to the central members of a social network spreads cooperation via increased punishment of uncooperative behavior, according to new research published in JNeurosci.

Diseases, Conditions, Syndromes

US sees risk of COVID supply rationing without more funds

The White House is planning for "dire" contingencies that could include rationing supplies of vaccines and treatments this fall if Congress doesn't approve more money for fighting COVID-19.

Medical research

Study finds the SARS-CoV-2 virus is not viable on cash banknotes

When the COVID-19 pandemic hit, many businesses stopped accepting cash payments in an effort to reduce the spread of the virus. While neither the CDC nor WHO ever banned the use of paper money, many businesses still only ...

Pediatrics

When a critically ill child is homeless

On a single night in 2020, roughly 172,000 in families with children and 34,000 unaccompanied youth under age 25 were homeless, according to government figures. Many more families are housing insecure amid skyrocketing rents.

Psychology & Psychiatry

Mayo Clinic Minute: Tips to beat holiday depression

The holiday season can invite unwelcome guests into your life, such as loneliness, money problems, family demands and unrealistic expectations. The stress and anxiety that accompany those issues can lead to sadness and depression. ...

Medical research

2 win medicine Nobel for showing how we react to heat, touch

Two scientists won the Nobel Prize in medicine on Monday for their discoveries into how the human body perceives temperature and touch, revelations that could lead to new ways of treating pain or even heart disease.

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Money

Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.

Nearly all contemporary money systems at the national level are fiat money systems. Fiat money is without value as a physical commodity, and derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the national boundaries of the country, for "all debts, public and private". By law, the refusal of a legal tender (offering) extinguishes the debt in the same way acceptance does. Some bullion coins such as the Australian Gold Nugget and American Eagle are legal tender, however, they trade based on the market price of the metal content as a commodity, rather than their legal tender face value (which is usually only a small fraction of their bullion value).

The money supply of a country is usually held to consist of currency (banknotes and coins) and 'deposit money' (the balance held in checking accounts and savings accounts). These demand deposits usually account for a much larger part of the money supply than currency. Deposit money is intangible and exists only in the form of various bank records. Despite being intangible, deposit money still performs the basic functions of money, as checks are generally accepted as a form of payment and as a means of transferring ownership of deposit money.

More generally, the term "price system" is sometimes used to refer to methods using commodity valuation or money accounting systems.

This text uses material from Wikipedia, licensed under CC BY-SA