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How have recent changes in the financial community affected the economists’ definition of money? Is there...

How have recent changes in the financial community affected the economists’ definition of money? Is there a readily identifiable group of assets which all economists would agree are money?

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Answer #1

The recent changes in the financial community which include the development of technology have negatively impacted the economist's definition of money as it has made it move from the store of value to medium of exchange. with these developments, the economists can no longer define money as a standard store of value as this has been changed by the changes in the financial community.

Explanation:
There is no readily acceptable assert which economists may agree are money due to the fact that the modern developments make it very hard to gauge the quality of an item. different assets have different values, a condition which only favors the locality of the asset and its geographical location. however, the financial community are planning to come up with a single currency in the world which will ensure that the current dominance by some countries is totally eradicated for fair trade balance.

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