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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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3 THE DEVELOPMENT OF GREEK AND ROMAN MONEY, 600 BC–AD 400 66–112 The widening circulation of coins 66 Laurion silver and Athenian coinage 68 Greek and metic private bankers 71 The Attic money standard 74 Banking in Delos 78 Macedonian money and hegemony 79 The financial consequences of Alexander the Great 82 Money and the rise of Rome 87
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Overview. Money was invented before written history began. [1] [2] Consequently, any story of how money first developed is mostly based on conjecture and logical inference. A significant amount of evidence establishes that many things were traded in ancient markets that could be described as a medium of exchange.
It specifies how much silver goes into a coin, and it collects a seigniorage tax3 on all new minting. When the mint is minting new coins, its costs are the cost of the silver content, the seigniorage tax, and the production cost;4 its revenues are the market value of the coins, which is the inverse of the price level.
Apr 2, 2024 · Money has been part of human history for at least the past 5,000 years in some form or another. Before that time, historians generally agree that a system of bartering was likely used. Bartering ...
Aug 2, 2023 · How did money come to be? Can economies function without it? Do factors other than supply and demand determine value in such systems? How is exchange organized in pre-industrial economies? Does money come before the state or only as a tool of it?
Sep 2, 2020 · First Online: 02 September 2020. pp 193–212. Cite this chapter. Download book PDF. Download book EPUB. Leading Issues in Islamic Economics and Finance. Zubair Hasan. 167 Accesses. Abstract. This chapter deals with familiar facts in the evolution of money, with some unfamiliar conclusions.
