With due respect, I see the expression which defines money as a commodity generally accepted as payment for goods and services and repayment of debts; as an incomplete definition.

I suppose more emphasis should be laid on the fact that money in its real sense is a medium of exchange for human brains and human physical effort. This is because all we consume and own in life are combinations of materials extracted from nature by some brains that work together with human physical effort in achieving their desired goal of creation.

A good example is the food we eat. Suppose someone owns a farm; the farm is a plain land on the surface of the earth and everything produced from the farm comes from the earth surface, within and above. The soil, the air and the rain from sky; all come from nature. Even the machines used on the farm are being produced by another entity who extracted the material from nature through proper use of the brain and human physical effort. This same principle applies to everything available for human survival and consumption; from the very low commodities to the very high luxuries.

This is to say that money is best defined as a “material or commodity produced from nature and generally accepted as a means of exchange for other outputs of the combination of human brains and human physical effort.” This means that we exchange a generally accepted output of nature for all other outputs of nature. That is, nature itself is useless without human brains and human physical effort.

For this reason, the human brain is “the most expensive thing in life.” And when the real owners of these brains die, the brains live on. This is why our past scientists still exist in our lives till tomorrow. Albert Einstein still remains the father of relativity; Sir Isaac Newton dies many years ago but he’s still very important in everyday application of science; and so many other scientists.

Thank you!

Lawal Quasim Bankole.

234-709—057-1839

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