By Glyn Davies

ISBN-10: 0708317731

ISBN-13: 9780708317730

This can be a straight-forward, readable account, written with the minimal of jargon, of the relevant value of cash within the usual enterprise of the lifetime of assorted peoples during the a while from precedent days to the current day. The revised and up-to-date paperback variation released in 1997 incorporated the Barings trouble and the document through the financial institution of britain on Barings financial institution; updated info at the nation of eastern banking and the alterations within the monetary scene within the US. It additionally touches at the US housing industry and the matter of unfavorable fairness. the ambiguity of why extra cash than ever earlier than are required in an more and more cashless society is obviously defined, as is the position of the recent 'Euro' coin because the lowest universal denominator in Europe's debatable unmarried foreign money approach. the ultimate part offers facts to signify that for many of the world's richer international locations the period of continual inflation might be at an finish. This new version is up to date and takes account of significant contemporary advancements similar to the independence of the financial institution of britain, the creation of Euro notes and cash from 1st of January 2002 and advancements in digital funds.

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Sample text

Dalton 1967). Some would argue that unless such objects can be seen to have performed a fairly wide variety of functions they should not really be classed even as primitive money. This view seems to be far too narrow and rules out much of the long evolutionary story of monetary development. For money did not spring suddenly into full and general use in any community, and primitive man commonly used a number of different kinds of money for different purposes, some of which are almost certainly older than others.

Of particular importance in this connection is Exchange and Mart, an advertising medium which has been published in Britain every Thursday since 1868. Jevons himself noticed it in its earliest years and was obviously puzzled that any such publication, partly dependent on serving such a long obsolete purpose as barter, should appear to have any use to anyone. He refers to Exchange and Mart as ‘a curious attempt to revive the practice of barter’ and quoted examples of advertisers offering some old coins and a bicycle in exchange for a concertina, and a variety of old songs for a copy of Middlemarch.

Unfortunately, in trying to suppress the less desirable aspects of the potlatch, its good features were also weakened. The replacement of one kind of exchange by another, or of one kind of money by another, often has severe and unforeseen social consequences. In the case of a number of Indian tribes the conflict of culture was particularly harsh and the ending of the potlatch removed some of the most powerful work incentives from the younger section of the communities. One cannot leave the subject of competitive gift exchange without a brief reference to the most celebrated of all such encounters, namely that between the Queen of Sheba and Solomon in or about the year 950 BC.

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A History of Money: From Ancient Times to Present Day by Glyn Davies


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