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"There's a tiny island called Yap out in the Pacific Ocean. Economists love it because it helps answer this really basic question: What is money? There's no gold or silver on Yap. But hundreds of years ago, explorers from Yap found limestone deposits on an island hundreds of miles away. And they carved this limestone into huge stone discs, which they brought back across the sea on their small bamboo boats. It's unclear if these stones started as money. But at some point the people on Yap realized what most societies realize. They needed something that everyone agrees you can use to pay for stuff. And like many societies, the people of Yap took the thing they had that was pretty - their version of gold - and decided that was money."

An interesting exploration of the definition of the word "money".

"Gift-giving makes economists crazy. It's so inefficient! So we wondered: Is there a way to make the holiday season both more efficient and more joyful? On today's Planet Money, we try to answer that question by conducting a wildly unscientific experiment. We go into a seventh-grade classroom and give a bunch of kids some small gifts - candy, raisins, fig newtons. Then we ask them how much they value what they got, and if they can think of a way to make everyone better off, without buying any more gifts. They quickly arrive at a solution: trade. Behold, the power of economics!"

This is the better version.

"Giving and receiving gifts can be a joyful thing - unless you're an economist. From an economic perspective, all those books that will never be read and ties that will never be worn are a huge waste."