The Economy theory - goods and money
Welfare Welfare = produced goods + redistribution curve At the basic level, welfare in society is just a matter of produced good (including services) and the redistribution curve. Money is not welfare in itself, as you cannot eat money. However, money is the system that controls the production and redistribution of goods. People with more money are entitled to consume more goods in this moment. But they can also chose to delay the consumption and have no impact in their welfare for the moment, then consume goods at a later time. Or money can lose value and can be never exchanged for the expected value. Money is motivation to produce goods Money also controls the motivation in the production of goods - like in working for salary or creating a company to get rich. Money permits to save the value of the goods that you produce now and later consume goods produces later - like when you retire. Money is used to redistribute goods to people that cannot produce goods (like unem...