This book is fabulous in clearing all your concepts about money. That is why the name Money Physics and Distributive Justice. If you think money is only the cash that our government prints that go out for circulation, then it is wrong. In fact, cash is hardly a minuscule portion of that. Isn’t that good enough reason to grab this book by Oded Kafri? I was highly curious while starting this book to understand what else constitutes money in a country. Or in the world, for that sake. Even you won’t get a proper definition in any of the dictionaries. Rather those tell about its usage, in fact. As a matter of fact, in next few years, currencies will stop floating in the market. Most of our cash will reside in banks. But we will still be buying and selling. The give and take of money will be cashless.
Even now when we use credit/debit card to make a payment, no cash moves from one hand to another. The same is the case when we use smartphone applications. Isn’t it amazing? All this happens without physical movement of money? And how this happens? So, as the author, Oded Kafri explains in the book Money Physics and Distributive Justice that it is important to understand the economic network. Now, imagine that a lot of purchases are happening in the world. And there is no movement of physical money. All the money remains in the banks. Every transaction impacts the respective account books of buyers and sellers. What it implies is that the net amount in any country is effectively zero. Because if one is buying, another is selling. The overall impact is nil. It only adds a figure in one account. And subtracts from another. Astonishing. Isn’t it?
Money Physics and Distributive Justice Is About Nodes And Energy
It is just a game of changes in respective balances. That means whenever you trade anything, it is just a matter of change in balances. While the net or aggregate remains unchanged. As a matter of fact, this is just the beginning of Money Physics and Distributive Justice by Oded Kafri. There are ample real-life examples in the book to explain each and every transaction. Whether it is loans, salaries, purchases, selling, or whatever we do with money, is quite convincingly explained. So if every individual is a node, there will be some busy nodes (rich people) and some slow-moving nodes (poor people). As you move ahead, you find an amazing relationship between economy and physics. You will be very easily able to correlate photon, equilibrium, energy particles, light, heat, etc. that we study in Physics and a deep connection of these terms with economy and money.
To summarize, Money Physics and Distributive Justice by Oded Kafri is a must read for everybody on this earth irrespective of age, country, profession, or any other factor. Because money is a common factor among us all.