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July 2, 2004

Strange But True!

  • A weekly column of incidental information, off-the-wall observations and other random facts about the world.
    • By BILL SONES and RICH SONES, Ph.D.
    Special to the Journal

    Q.  Imagining the old expression "If I had all the money in the world, I would..." were taken literally, how much would you have?  What might you buy? 

    A.  First, you need to define what you mean by "money," says Fordham University economist Derrick Reagle.  You might mean currency, or the kind of money you can put in a big pile and jump into.  Most products aren't bought with this kind of money, though.  Checks, credit cards, and debit cards are fast outpacing the use of cash money.  Add to this the multiplier effect whereby currency put in the bank can be reused by the bank making loans, and the amount of physical currency needed to sustain the economy dwindles.


     
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