The History of Money – Part II

The previous article in this series discussed Barter Systems. This article will discuss the emergence of commodity money, which is generally thought to have evolved out of the necessity to have a specific debt instrument for an “I owe you” (IOU).  Origin of the word “money” In the Roman Republic, coins were made on the Read more about The History of Money – Part II[…]

The History of Money – Part I

Olas Magnus, 1555 – On Trade Without Using Money – depicting Scandinavian and Russian traders bartering This series of articles intends to discuss the history of money from simple barter systems to modern day fiat currency. This article will discuss barter systems. Barter Systems On the nature of money, Aristotle noted that every object has Read more about The History of Money – Part I[…]