Money History And Evolution

  • Print Article |
  • Send to a Friend |
  • |
  • Add to Google |

Money is an important part of our daily lives that we seek incessantly, but we rarely stop to consider it. The modern financial system with their bills, checks, funds, federal , and other complex financial instruments emerged from the overnight. It has developed over centuries.

The money is all that constitutes a medium of exchange or payment commonly accepted. At first it took the form of goods, but over time became money, paper and current accounts All these instruments have the same essential quality: they are accepted as payment on the purchase of goods and services while companies have passed on the use of money for a number of historical phases. The sequence of barter, commodity money, paper money and bank money shows how it evolved over time.

Barter and the use of money . When Stanley Jevons, one of the first textbooks on the money, wanted to illustrate the tremendous leap forward civilization when he moved from barter to money exchange.
Money as a medium of exchange appeared for the first time in human history in the form of goods, of very different kinds: livestock, olive oil, beer or wine, copper, iron, gold, silver and diamond rings. In the nineteenth century, the money commodity is limited almost exclusively to metals. Silver shines, but is tarnished. As for gold, its high specific gravity makes it easier to detect any forgery or tampering. But for most of history, its scarcity value per ounce has been so severe that they were too small coins needed for everyday purchases.

Most kinds of money used tended to be valuable or useful for themselves. Thus, gold has been used in dentistry and jewelry. However, the intrinsic value of money is the least important of them. The age of commodity money gives way to money-paper. Today, the essence of money is exposed. Money as such and not as a commodity, not sought for itself but for the things they can buy with it. We do not want to have to be consumed directly but, rather, to use it away. Even when we decide to keep it, its value derives from the fact that we can spend it later. Money is an artificial social convention. If for any reason, start a substance used as money, the public begin to appreciate. A person who does not smoke cigarettes assess whether they are the money in a concentration camp.

Latinos Internacional is a great place to share pictures, videos, articles and much more.

We have thousands of articles written in Spanish and English Language

Article Rating (1 stars):
  • article full star
  • article no star
  • article no star
  • article no star
  • article no star
Rate this Article:
  • Article Word Count: 397
  • |
  • Total Views: 13
  • |
  • permalink
  • Print Article |
  • Send to a Friend |
  • |
  • Add to Google |
>