In addition, improvement and advancement in the capital have come under a major affection by imposing of taxes, tax collection and the concept of banking. With the advancement of technologies and growing demands of tax payments, economies were becoming multifaceted as it endured the currency to progress and made its role more vital and crucial for the whole world. Regardless of all the factors of the past, the fact still exists, that money emblematizes significance. Through ages, the role of money has not changed and today still, money has the same functionality, but nowadays it not only exemplifies material goods but services are also charged. ”Acquiring money is not the same thing as creating value” (Lau, 2000). This statement gives a clear view that money and finished goods are directly proportionate to each other. It means that profit generation cannot always lead to the production of goods in a valuable manner. The best example that explains the statement is currency traders. These people make money by bartering of currencies (that is buying and selling), thus. they are not in the process of making any value in the good/product. On the other hand, an example of painting symbolizes that not only the money comes under collection but also the value of the good has come under deportation (Lau, 2000). Institutional Economics.
Groenewegen, J., Van den Berg, A., Spithoven, A. (2009). Institutional Economics: An Introduction. Palgrave Macmillan.
Komives, S. R., Wagner, W. (2009). Leadership for a Better World: Understanding the Social Change Model of Leadership Development. Jossey-Bass.
Lau, K. J. (2000). New age of Capitalism: making money east of Eden. University of Pennsylvania Press.
Lippit, V. D. (2005). Capitalism. Routledge.
McConnell, C. R., Brue, S. L. (2007). Economics: Principles, Problems and Policies. McGraw-Hill Irwin.
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