11.19.2014

Money: The Unauthorized Biography, Martin - Inc.

                                               The mission of the author is to disprove the generally accepted theory that the concept of money evolved as a replacement for barter systems, and that it initially used commodities, such as silver and gold, for coinage. "Currency is not money. Money is the system of credit account and their clearing that currency represents."  The coins invented in the 6th century BC simply represented the agreed upon system of valuation. The magic was in agreeing on a value and adopting it into everyday life.  The Romans had a fully sophisticated, almost modern financial system that succumbed when they did. The concept of universal economic value does need governments to provide the skeletons to hold the systems in place.  In essence, "money is a social technology - a set of ideas and practices for organizing society". In the end, I was once again unable to complete a book with economics at i's heart.  Perhaps John Lennon sang all that we need to know: "that's what I waaaant".

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