Is Money Extrinsic or Intrinsic Value
Money’s value stems from two perspectives: extrinsic and intrinsic. Extrinsic value lies in its purchasing power, allowing it to acquire goods and services. Fiat currencies, like the US dollar, possess extrinsic value only, as their value is not tied to any physical commodity. On the other hand, intrinsic value is inherent in the material substance … Read more