| Description |
1 online resource (288 pages) |
| Contents |
Front Cover; Money and its Origins; Copyright Page; Contents; Preface; Acknowledgements; 1.Introduction; An overview; Two economic systems; The mainstream view; Barter exchange economy and money economy; Principal characteristics of a moneyless economy; The problem of double coincidence of wants; Methods of inquiry; The structure and organization of the book; 2.Money as a discovery or an invention; Introduction; Aristotle -- whatever exists must have an origin; Money as an invention or a discovery; A few examples of scientific discoveries; Scientific inventions |
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Money is neither an invention nor a discoveryConclusion; 3.Division of labour and production of surplus products; Introduction; The ordinate and subordinate prerequisites; Division of labour as the point of departure; The exchange of surplus products is mutually advantageous; Conclusion; 4.Initiation of money from the act of exchange; Introduction; Money is followed by exchange; The historical epoch of money and commodity production; Social division of labour and production of surplus products; The process of transubstantiation; The reification of real money |
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The act of exchange -- a non-Marxian perspectiveConclusion; 5.The exchange in kind versus the exchange against a medium; Introduction; Exchange of goods and exchange of gifts; Beginning in isolation and ending with combination; A unified act of buying and selling; Conclusion; 6.The origin of money and the most marketable good; Introduction; Most marketable goods; No historical record can explain the origin of money; The exchange of two unequal use values; A use value exchange economy; The degree of marketability of a good can be known only in exchange |
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The placebo effect of the medium of exchangeConclusion; 7.Money originated from its functions; Introduction; Money and its functions; The unit of account theory of the origin of money; The medium of exchange theory of the origin of money; Derivation of money from its function as a standard for deferred payments; The store of value function; Conclusion; 8.Money as a creation of debt payment or a creature of the state; Introduction; The state and the symbolic or token money; Money is a Chartal means of payment; Chartalism and the state money |
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Money is neither a consciously designed nor cunningly invented instrument of commerceDebt payment and the tax levies and the origin of money; Conclusion; 9.Inherent difficulties of the barter system and the origin of money; Introduction; The ongoing theory of the origin of money; The origin of money and the break away from the medieval world; The common instrument of commerce; The advent of a circulating medium; Chaos in exchange due to lack of coincidence of wants; A common measure of value remedies the inconveniences of the barter system; The origin of money in economics textbooks |
| Summary |
The concept of the origin of money has been a topic of interest and discussion to almost all schools of economic thought. However, in spite of minor differences of interpretation, most views share an underlying core principal about the rise and origin of money, implicit in which is the central belief that barter exchange preceded the money economy. This new book offers a challenge to this belief, and argues that it is only by making this challenge that we will be in the position to accurately trace the roots of money. In an ambitious undertaking, the book has gathered and classified the major |
| Notes |
Print version record |
| Subject |
Money -- History
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Economic history.
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Economic history
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Money
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| Genre/Form |
History
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| Form |
Electronic book
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| ISBN |
9781136239038 |
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1136239030 |
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