Quality of Money

Abstract

Quality of money is not just an economic concept. If we subject money to the basic test of quality – "fitness for use”, different views can emerge about its quality. This article discusses three such popular perspectives based on the criteria of fitness for use. One dimension can be called as an emotional perspective. Another dimension can be called as the ethical perspective and one more can be called as the spiritual perspective. Sharp differences in the measurement of quality of money emerge under each of these three perspectives. These differences are attributable to the differences in basic belief systems. This article also tries to find out whether these three perspectives can co-exist or are they mutually exclusive.