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Chapter 2: Scarcity and Creativity > The Purpose of Money

The Purpose of Money

Money is not only about currency itself, or the making of more money. Money is about respect, reputation, and revenue; it is about social transactions and social capital. So where did we go wrong? Where did all the knuckleheads come from? Why have vengeance, criminality, extortion, and embezzlement become so common in business? The answer may have something to do with whom you hire, but the underlying reason is in our misplaced sense about money.

Today, if we asked the best trained MBAs from the Institut Européen d’Administration des Affaires (INSEAD) in Paris or from Wharton, Thunderbird, or Harvard, “What do we mean by money, commerce, and company?” they’d say, “I have no clue. Give me the money.” We have, in a sense, gone senile as capitalists. We must combat this cultural senility by realigning the roles of money, people, and rules for our new century.


  

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