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Britestar

Economics isn't accounting. Do you view spending as if the money disappears?

Mankind has been gathering wealth from our earliest existence. Wealth, because of it's value, is seldom lost, but changes hands. Do people behave as if money spent, ceases to exist? More importantly, do they apply these misconceptions to greater economic concepts where their lack of faith in the money's existence, becomes a self-fulfilling prophecy?
Britestar:

I know I had that dollar in my pocket. Dang, government.

Russ:

I can only answer this as an accountant. Money does not dissappear(as you said), but is exchanged for something else. When we buy a computer, we change one asset(cash) for another(the computer). This is a quid pro quo.When a tax is paid, or a credit card, we exchange an asset (cash) for a reduction of a liability (a reduction of future demands on cash).

Wealth, on the other hand, is an economic concept-Adam Smith, Karl Marx and Peter Drucker have all spoken well on that concept. It is far more of a fungible idea.

Globally Interested:

I regard money as merely a symbol of debt that is owed to me by the economic society. When I spend the money, the debt is paid.

From an accounting view, money pays debt. From a utility view, money represents debt.

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