The Hierarchy of Money

The article 'The Hierarchy of Money' by Gregory Gundersen proposes a framework for understanding different types of money, categorizing them into three tiers: Level 1 (Store of Value), Level 2 (Currency), and Level 3 (Medium of Exchange). The author argues that these tiers are not mutually exclusive and that the hierarchy is fluid. The article explores the concept of money as a tool for facilitating exchange and storing value, and how its different forms have evolved over time. The author emphasizes the importance of understanding the hierarchy of money to make informed financial decisions and to navigate the complexities of modern finance.