The story of the people of Yap is a very intriguing story about money and how different people have different concepts of money. While reading and listening to the different stories I began to realize how Yap’s concepts of money are alike in some ways to America’s concepts of money. Like the people of Yap, people of America exchange some sort of currency to do business.
For example, Americans have many ways of exchanging currency. A person who has an account with a bank can exchange checks. A check is one of the many ways Americans can exchange currency. The bank holds money for a person who has an account. An account holder can write out a check with a certain amount of money written on it and exchange it with someone who wants to do business with the account holder. The person who receives that check then can either cash the check for money or place the check into their bank account. If the receiver of the check places the check in their own bank account, bank than moves the amount of money written on the check from the person who gave the check into the person’s bank account who received the check.
Unlike any other countries, Yap’s average currency is a huge stone carved out of limestone; known as Fei. Because the stones are large and heavy the people of Yap do not move the fei. Instead the people of Yap exchange their ownership of the fei to do business with other people.
Although the methods of exchanging are completely different their concepts are alike because they are both a form of currency. Both the checks and feis are strongly alike to each other because they are one of the many ways the people of Yap and the people of America use to exchange currency in business.