Word of the Day
August 16, 2023
Intrinsic
Pertaining to the essential nature of a thing; inherent. Belonging naturally to something as part of its fundamental character.
From Latin 'intrinsecus' meaning 'inwardly, on the inside,' from 'intra-' (within) + 'secus' (alongside). First used in English in the 15th century to describe qualities belonging to the essential nature of something.
Usage Examples
- Intrinsic to the value of the U.S. dollar is the trust in the full faith and credit of the United States.
- Gold coins once had intrinsic value because the metal itself could be exchanged for goods and services.
- The intrinsic worth of liberty cannot be measured in dollars but in the quality of human flourishing it enables.
From the Show
The concept of intrinsic value emerged as the central theme of Dave Walden’s presentation on money and the gold standard. Walden demonstrated how U.S. currency once possessed intrinsic value through gold and silver backing, and traced how that intrinsic worth was systematically removed through Federal Reserve policies and Nixon’s 1971 decision. Listen to the full discussion in Listen to the full episode.