Currencies in most countries have very little physical value but a distinct psychological value the citizens trust making the concept of money very peculiar. Although different countries each use different currencies as a way for people to exchange services, every system is consistent. Without the use of a currency people would have to seek out an individual who has what they want as well as can provide a service the individual wants. The biggest problem is that the likelihood of this is very small and chance is that the value of the exchanged services are different. For example, if I am very good at making muffins and I want to purchase bread, I could trade 2 or 3 muffins. Though if I wanted to trade for a car, I would have to sell the company thousands of muffins but the exact amount would be difficult to determine. Currency bridges this gap by turning services into a somewhat universal object that can be valued and understood by everyone in a society.
The people of Yap utilized carved limestone, or fei, as their currency because producing and bringing it back to the island took a great deal of work. Much like the dollar, fei represented a psychological value beyond its physical worth that everyone on the island believed in and accepted. The system the people of Yap had created for themselves became just as rational as the system we use in the United States. So similar that transactions in Yap came to the point where not even having the physical object mattered, just the ownership of it. Today in the United States, a majority of people use credit cards adding and subtracting digital numbers representing the amount of physically money they would own. Just like the people of Yap, the psychological system allows people to easily purchase services and goods without having to provide one back. The entire system is kept in balance because everyone agrees on the values and everyone accepts it. This agreed system allows people to exchange services without having to worry about not having a service to provide back.
My views on the money system have not changed after reading and analyzing the articles. I feel that the system we use in the United States is just as efficient as the system used by the people of Yap in allowing each person to buy and sell services. Having a currency connects the society to a consistent system of trading services back and forth with littler hassle. A society’s belief and trust in a currency system, knowing that tomorrow it will be equally accepted, causes it to be successful.