Nobuhiro Kiyotaki & John Moore, 2001. "Evil is the Root of all Money (Clarendon Lectures 1)," ESE Discussion Papers 110, Edinburgh School of Economics, Money makes the world go around. But what sort of thing is money? Bits of paper and metal? An elaborate set of IOUs to be redeemed with more IOUs? Answer to Define money and describe its functions. Is money a root of all evil? Why or why not? How are paper money (fiat) and commodity money different? The idea that money is the root of all evil or its variant The love of money is a measure of value, or a means of payment: such as coins, paper money etc Paper Money, the Root of Evil: An Examination of the Currency of the United States, with Practical Suggestions for Restoring Specie Payments Without [Charles K