03/05/2018
"MONEY" who introduced money? Money is defined in different ways by different philosophers in different spheres of life. However a few definitions are standardized. Some asserts that, "money" is just anything generally accepted in a given society( country) to be used as a common medium of exchange for both goods and services. "It contradicts my own understanding now as I write this!" You could be asking yourself now why; stop wondering , to me it has turned to be "A national concern about Uganda 50 shillings denomination" it may not sound so strong and serious to you but , it's affecting you seriously and strongly in an indirect way; Now you are asking your self how? But did you know that as we argue now 50 shillings denomination is assumed by central banks to be in circulation yet in actual sense it's not, Not just for a reason that it has lost value, but it's because it's no longer taken to be legal tender denomination that is functional; it no longer define its self as money is defined.
Did you know that this has to a great extent contributed to inflation in Uganda, it's true that government or central bank of Uganda can't dictate to this fact that 50 shillings denomination should continue to be used as a common medium of exchange for goods and services; yet is not generally accepted as money now!
Who knows how much 50 shillings denomination money was released by central bank through commercial banks to circulate?
Is this 50 shillings denomination money released sometimes back in circulation now ? or it has been generally rejected by Ugandan populace?
Can the government or central bank of Uganda print more equivalent amount of money of a different Uganda denomination to replace 50 shillings denomination worth?
Do you critically and analytically see to this that could help check on the current inflationary economic situations in our country Uganda?
I appeal to national economists to argue out this; refer to the definition of money as you read this article and share with your national friends who are seen to be ignorant of this situation .
