One very early example of this is Yap Island’s unique system of currency known as the “rai stones,” an example of commodity money. The value of this stone was determined by its history and ...

Some argue that money has its roots in the power of the state. Others claim the origin of money is a purely private matter: it would exist even if governments did not. This debate is long-running ...

The study of history may also disappoint crypto enthusiasts who wish to liberate money from government control. Monetary policy—the manipulation of money by the state—is almost as old as money ...

MATERIAL produced by recent ethnological research calls for a revision of the hitherto generally accepted 'classical' conception of the origin and early evolution of money. That conception may be ...

Though this distinction between money and currency is important in some contexts, for the purposes of this examination of the history of money, the terms are used interchangeably. Money is a ...

Traditionally, two theories on the origin of money exist. The first is the commodity theory, which proposes that money was developed to facilitate internal barter between community members.

But where did the story of money begin, and how did it get to run the world? There are two theories for the origin of money: the commodity theory and the chartalist theory. The first proposes that ...

MORE than half this book consists of very short precis precis of data on ‘primitive money’ from ethnographical and historical literature, to supply a basis for a theoretical analysis of ...

The Austrian School of Economics offers a unique and insightful perspective on the origin of money and the concept of sound money. Foundational figures such as Carl Menger, Ludwig von Mises ...

giving it its current meaning. There is an even stronger version of the neutrality of money postulate: the superneutrality of money. Superneutrality further assumes that changes in the rate of ...