General History of Money
In his book The Philosophy of Money (1907), Georg Simmel states that the purpose of money lies in spending it; as soon as money is idle, its specific value or purpose is no longer that of money. Money passes from one person to another, mobilizes things and people and …
There are as many speculative accounts about the origin and beginnings of money as there are sound propositions. The most common theory sees money as having arisen from trade in goods. Among others, Carl Menger (1909) postulated that money evolved spontaneously from …
Cattle and small domestic animals, shells, pearls, whale teeth, feathers, implements, jewelry, stones, salt, grain, dried fish, cocoa beans, tea, sugar, cotton cloth, furs, tobacco, metal, paper … the range of goods that have been used as money is virtually boundless. …
The Importance of Money in Society
The fifth element: money! “Yea, and the fifth element” – thus William Camden, historian and archeologist in England at the turn of the 17th century confirmed what Greek poet Alkaios had proclaimed “Chremata, Chremata Aner” (Money, money …