A History Of Money

“If you’re interested in the revolutionary transformation of the meaning and use of money, this is the book to read!”—Charles R. Schwab Cultural anthropologist Jack Weatherford traces our relationship with money, from primitive man’s cowrie shells to the electronic cash card, from the markets of Timbuktu to the New York Stock Exchange. The History of Money explores how money and the myriad forms of exchange have affected humanity, and how they will continue to shape all aspects of our lives—economic, political, and personal. “A fascinating book about the force that makes the world go round—the dollars, pounds, francs, marks, bahts, ringits, kwansas, levs, biplwelles, yuans, quetzales, pa’angas, ngultrums, ouguiyas, and other 200-odd brand names that collectively make up the mysterious thing we call money.”—Los Angeles Times

An account of the central importance of money in the ordinary business of the life of different people throughout the ages from ancient times to the present day. It includes the Barings crisis and the report by the Bank of England on Barings Bank; information on the state of Japanese banking; and, the changes in the financial scene in the US.

This is a straight-forward, readable account, written with the minimum of jargon, of the central importance of money in the ordinary business of the life of different people throughout the ages from ancient times to the present day. It includes the Barings crisis and the report by the Bank of England on Barings Bank; up-to-date information on the state of Japanese banking and the changes in the financial scene in the US. It also touches on the US housing market and the problem of negative equity. The paradox of why more coins than ever before are required in an increasingly cashless society is clearly explained, as is the role of the Euro coin as the lowest common denominator in Europe's controversial single currency system. The final section provides evidence to suggest that for most of the world's richer countries the era of persistent inflation may well be at an end. This new edition is updated and takes account of important recent developments such as the independence of the Bank of England, the introduction of Euro notes and coins from 1st of January 2002 and developments in electronic money.

A History of Money looks at how money as we know it developed through time. Starting with the barter system, the basic function of exchanging goods evolved into a monetary system based on coins made up of precious metals and, from the 1500s onwards, financial systems were established through which money became intertwined with commerce and trade, to settle by the mid-1800s into a stable system based upon Gold. This book presents its closing argument that, since the collapse of the Gold Standard, the global monetary system has undergone constant crisis and evolution continuing into the present day.

Looking from the 11th century to the 20th century, Kuroda explores how money was used and how currencies evolved in transactions within local communities and in broader trade networks. The discussion covers Asia, Europe and Africa and highlights an impressive global interconnectedness in the pre-modern era as well as the modern age. Drawing on a remarkable range of primary and secondary sources, Kuroda reveals that cash transactions were not confined to dealings between people occupying different roles in the division of labour (for example shopkeepers and farmers), rather that peasants were in fact great users of cash, even in transactions between themselves. The book presents a new categorization framework for aligning exchange transactions with money usage choices. This fascinating monograph will be of great interest to advanced students and researchers of economic history, financial history, global history and monetary studies.

With clarity and humor, Martin Jenkins and Satoshi Kitamura take readers on a fascinating tour of the history of money. What can take the form of a stone with a hole in the middle, a string of shells, a piece of paper, or a plastic card? The answer is money, of course. But when did we start using it? And why? What does money have to do with writing? And how do taxes and interest work? From the Stone Age to modern banking, this lighthearted and engaging account traces the history of the stuff that makes the world go round.

This book presents a detailed and surprising history of money from Charlemagne's reform in approximately AD800 to the end of the Silver Wars in 1896. It also summarizes twentieth century developments and places them in their historical context.