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Are You Doing Business With Monopoly Money?

By: Kalinda Rose Stevenson

In the Great Depression, the Monopoly game first appeared in the marketplace. Many children around the world first learn about money and business in this game.

Monopoly teaches players to buy and sell property, collect and pay rents. The game is fun, especially for the winners.

If fact, this board game teaches money myths that can affect your ability to make real money in your business. So, the real question is: Are you doing business with ideas about money that you learned by playing Monopoly?

One Monopoly Money Myth is that amount of money available is limited. The game begins with a fixed amount of money. The game ends with the same amount of money. The only difference between the beginning and the end of the game is that the money, which was evenly distributed at the beginning of the game, is now concentrated in the hands of the winner.

The critical point is that Monopoly is a zero sum game. No one MAKES money in Monopoly. This is not what happens in business. In business, you create a product or offer a service that actually MAKES more money. A zero sum business would be out of business before too long.

What is the process in business? It costs money to produce, market, and sell a product. If you can sell the product for more than it cost you to produce and sell it, you make a profit. A profit is money that didn't exist when you started.

When you create profit in business, you do more than create profit for yourself. You actually create more money. This is what profitable businesses do. They increase the amount of money in the money supply. In contrast, the winner of the Monopoly game does not create more money. In fact, no one makes money in the Monopoly game. This is the critical difference between business and Monopoly.

Monopoly cannot teach the fundamental truth that the amount of available money is potentially unlimited. Monopoly teaches players that money is a commodity in limited supply. The game does not teach that money is created in transactions. The more transactions occur, the more money is created.

Article Source: Main Articles

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