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INTRODUCTION. This book is about the history of money: how did it begin? how has it evolved to the present day? what has it enabled humans to achieve? and why do so many people in the world today have problems with it and suffer from the way it works? The book is also about the future: how may money develop further? how might we want it to develop?
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The importance of money 1 Sovereignty of monetary policy 3 Unprecedented inflation of population 5 Barter: as old as the hills 9 Persistence of gift exchange 11 Money: barter’s disputed paternity 13 Modern barter and countertrading 18 Modern retail barter 21 Primitive money: definitions and early development 23 Economic origins and functions 27
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Jan 1, 1993 · PDF | The origins of money and banking are explained in nearly every introduction money and banking course, but Wray proposes an alternative approach... | Find, read and cite all the research...
An irreverent overview of the history of money from the beginning of the beginning through to the present In the original state, our homogenous globule of desire forefathers' were inconvenienced by barter until, according to Samuelson, they hit on the idea of using shells, landmarks, stone wheels, and wives as money.2
of fiat money, in which the medium of exchange consists of unbacked government liabilities, which are claims to nothing at all. Moreover, govern-ments have usually established a monopoly on the provision of fiat money, and control, or poten-tially control, its quantity. Fiat money is a very recent development in monetary history; it has
Jun 4, 2021 · PDF | The dominance of deposit money means commercial banks play a leading role in money creation. This chapter puts this situation in a historical... | Find, read and cite all the research...
4 It is known that the actual silver was located in closely guarded vaults in the temple, the ancient time’s equivalent of Fort Knox. 5 This is a clear evidence that the value of money is set equal to a month’s labour, which is the basis of labour theory of value. Kant took this view. We will come back to this later.
