| A | B |
|---|
| fiat money | money backed up only with government force |
| gold | precious metal used as money |
| portability | the quality of money that makes it transportable to transactions |
| inflation | government paper-milling money |
| barter | goods for goods, services for services |
| tragedy of the commons | no one can own it, but everyone can use it |
| private property | legal attachment of property to a person. a variety of transactions |
| extralegal (Hernando de Soto) | undocumented private property |
| capitalism | system of self ownership and private property |
| socialism | state ownership of people and property |
| storability | good money quality of keeping value over time |
| time and money | what everyone bring to the market |
| knowledge and effort | what everyone bring to the market in addition to time and money |
| not easily dulicated | good money quality |
| general acceptance | people see the money as a valuable commodity |
| durability | good quality of money that means it will not lose value from normal wear |
| divisibility | good quality of money which means it can be used for a large variety of transactions |
| Schumpeter | Capitalism is understood as creative destruction |
| ironic theory of capitalism | people educated in complaint theory will destroy the engine of prosperity - capitalism |
| 2/3 of the world people cannot prove they own their property | Hernando de Sotos "Locked Out" theory |
