Essays on Evolution Of Money: Free Examples and Samples on.
Indeed, economists recognize money as the safest and most liquid store of value available, at least outside situations with high inflation, when money’s value falls rapidly. Some people will also mention the use of money to pay down debt, with money used as a means of payment, or means of final settlement of contractual obligations.
The history of money became a part of human history about 3,000 years ago, but going by the definition of money, it is justifiable to say that it had been in use a little longer than that. When people discovered that they could trade their surplus goods such as grains and hides for those they lacked, like salt and hoes, money was effectively a part of us.
MONEY: ITS HISTORY, IMPORTANCE AND EVOLUTION Generally, money has been defined and viewed in numerous ways by various economists and people. Many view it as a basic medium of exchange that makes transactions easier while compared to barter. Others view it as a “fifth element” that gives men the power to govern other men (Mauss 1).
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Heering, W 2005, Money and reciprocity in the extended order - an essay on the evolution and cultural function of money. in J Backhaus (ed.), Entrepreneurship, money and coordination: Hayek's theoryof cultural evolution. Edward Elgar, Cheltenham, UK, pp. 156-190.
Money was developed according to man’s needs and requirements. In the beginning, there was no money. People engaged in barter, “the exchange of good or service for another good or service” (Steven Cobb, 2007, page 1), without value equivalence.
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