Are You Using Monopoly Money In Your Business?

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.

Players learn how to buy and sell property, collect and pay rents when they play Monopoly. The game is fun to play. It is especially fun 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 truth is that Monopoly is not a money-making game. No one actually makes money in Monopoly because Monopoly is a zero sum game. This is why Monopoly is not a good example of what happens in business. A successful business makes money by creating products and services. Successful businesses are not zero sum games.

This is how it works. You create a product. The product costs you money to produce, market, and sell. If you sell the product for more than your costs, you make a profit. This profit is money that did not exist when you started the game.

When you create a profit, you create money. You add more money to the money supply. It's not just that you have more money, but more money now exists. This is the essential money difference between Monopoly and business. No one makes money in Monopoly. In contrast, when businesses make profits, they actually increase the amount of money available.

What lesson does this teach? Monopoly teaches players that money is a commodity in limited supply. In the real world, money is not a commodity in limited supply, because money is created in transactions. This is why the amount of money available is potentially unlimited. The more transactions that occur, the more money is created.

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