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2. Money is a tool used as a medium of transaction, a storage value and a unit of account. It is a special commodity specially used as an equivalent in the exchange of goods and services. It is a material and symbolic appendage of people's commodity values.
3. Bad money drives out good means that when a country circulates two kinds of currencies with different real value but constant legal price, the currency with high real value or silver (good money) will be melted, collected or exported and will exit the circulation field, while the currency with low real value (bad money) will flood the market. It is also called "Gresham phenomenon" (Gresham phenomenon), which was proposed by Elizabeth Chancellor of the Exchequer in the 16th century; s Law
in a narrow sense, bad money expels good money means that when the valuation Party (the party with insufficient information) has a fixed valuation e to asymmetric information, the provider (the party with sufficient information) will choose to provide goods with lower real value (bad money), resulting in fewer and fewer goods with higher real value (good money). In a broad sense, bad money driving out good money can also refer to the general phenomenon of Reverse Elimination (that is, the survival of the poor and the elimination of the excellent)
extended data:
"bad money drives out good money" phenomenon exists not only in the era of coin circulation, but also in the circulation of paper money. Everyone will spend dirty, damaged paper money or bad money that is inconvenient to store as soon as possible, leaving neat and clean money. This phenomenon can be found everywhere in real life. For example, on weekdays, when taking the bus or subway to and from work, the regular queues are always crowded and unable to get on a few buses, while those who don't follow the order are often able to get on the bus first, compete for seats or seize time
in the end, fewer and fewer people followed the order to get on the bus. When the bus came, people all rushed to get on the bus. Every time they got on the bus, it was like a war. For another example, in some units where big pot food prevails, there is no difference in the treatment and rewards they receive regardless of their level, effort or performance. As a result, the young, the capable and the high-level all go for another job, while the rest are the old, the weak and the mediocre. This is also "bad money drives out good money"
4. There is no clear definition of money in capital.
5. Any commodity that can perform the functions of medium of exchange, value scale, deferred payment standard and fully mobile means of wealth storage can be regarded as money.
6. "Exchange rate", also known as "foreign exchange market" or "exchange rate", is the ratio of one currency to another, and the price of another currency expressed in one currency. Due to the different names and values of the currencies of various countries (regions) in the world, it is necessary to set an exchange rate for a currency against the currencies of other countries (regions), that is, the exchange rate.
7. Coordinated diplomacy is a new diplomatic line of "compromise" between Japan's Hara Kyo cabinet and Britain and the United States in the new situation at home and abroad after World War I. It became the mainstream of Japan's diplomacy in the 1920s after several successive cabinet administrations, which was carried out by foreign minister yoshizaburo Hara. In order to overcome the domestic difficulties and maintain the stability of capitalism, Japan tried to seek coordination with Britain and the United States in the Washington System on the premise that all countries recognized Japan's vested interests, without the ability to carry out armed confrontation with the great powers of the United States and Britain. His diplomatic principles are: to maintain and enhance legitimate rights and interests, to respect the doctrine of continuity in diplomacy, to maintain trust relations with foreign countries, to improve relations with the United States and the Soviet Union, not to interfere in China's internal affairs, and to use economic diplomacy instead of military struggle. The so-called "legitimate rights and interests" of Yuan Yuan means that the rights and interests obtained by Japanese imperialism through the unequal treaties signed with China in the past are legitimate. The fundamental purpose of Yuanyuan's diplomacy is to safeguard this kind of rights and interests, while maintaining coordination with other countries and non-interference in China's internal affairs is an effective means to achieve this goal. Its essence is intransigence, and its compromise in form and intransigence in essence constitute the internal contradiction of coordination diplomacy and determine its instability.
8. International currency is the currency that plays the role of general equivalent in international commodity circulation. World currency is proced and developed with the development of commodity proction and exchange. World currency is not only a measure of value, but also a means of international payment, international purchase and international transfer of wealth.
