I am happy to announce that the second book in my Money Dethroned series, now is available on Amazon as e-book and paperback. See book description below:
The sick, wounded man that was Rome settled in Constantinople under Constantine the Great and was soon to thrive again under better money. One chapter of Money Dethroned details the monetary progression of that empire; the centuries passed and the pure gold coinage of Constantine became an ever more ancient relic. And so it was after...
One chapter of Money Dethroned details the emergence of copper money in Ancient China, and the many difficulties the Emperors there had with counterfeiting, or unlawful money production. Although, as we now know, many medieval travelers observed the paper money of Mongol China, perhaps little did the very same travelers know of the metallic...
One chapter of Money Dethroned details Spanish copper money, and the way it was abused by the state in the 17th century. It is an interesting example of the tinkering of face values, leaving regular Spaniards financially ruined in the process without shrinking or debasing the actual physical coinage.
The third chapter of Money Dethroned details the use of livestock as money. It was arguably the most common standard in use before metallic monies, and has therefore contributed considerably to everything from the shape of early metallic coinage, to money-related etymology.
I am happy to announce that my new book, Money Dethroned, now is available on Amazon as e-book and paperback. See book description below:
This is the fourth and last part of the series in which I summarize Carl Menger's 'Principles of Economics'. It captures the sixth, seventh and eight chapter of the book, and builds the theoretical framework around the commodity and of money. For previous summaries, see here, here and here.
This is the third part of the series in which I summarize Carl Menger's 'Principles of Economics'. It captures the fourth and fifth chapter of the book, and builds the theoretical framework around the exchange of goods and the price of goods. For a summary of chapter one, two and three, see here and here.
This is the second part of the series in which I summarize Carl Menger's 'Principles of Economics'. It captures the important third chapter of the book, and builds the theoretic framework around the value of different goods. For a summary of chapter one and two, see this article.
This is the first part of a new series in which I try to summarize Carl Menger's 'Principles of Economics'. The goal is to make the important work slightly more digestible for segments of people with perhaps less time on their hands, but not necessarily less will to learn about economics. This first part captures the first...
As the world headed for war, it soon became clear for all involved governments that they urgently needed diamond reserves in order to convert industries for war purposes; the industrial-grade stones were needed for sophisticated production of war vehicles, planes and rockets. This had the American government in conflict with De Beers, which refused...
The thought of diamonds have spurred most peoples' imagination at some point in their lives - often as children. Many tales have been told, written or shot as movies about these incredibly valuable stones, of enough glitter to reflect the love for a special girl. But as we grow older we sometimes run in to facts that disenchant us from...
Born in 1671, John Law was the son of a Scottish goldsmith of considerable social importance. Being the oldest out of nine surviving children, and being perceived as gifted, John was given the greatest care and education after the father suddenly died. According to A.W. Wiston-Glynn, the youngster took a liking to mathematics and then to the nature...
Update 2020-02-02: This article is updated with further sources to better reflect its chapter in my book, Money Dethroned.
Salt is boring. But it still gives us quite a good example of how a commodity can evolve and then devolve as money; this consequently helps us better understand some of the proper frameworks for studying money. Historically, salt was often used to prolong the lifespan of food products, and so functioned as a vital hedge against periods of hunger....
In his 'Fiat Money Inflation in France', Cornell University co-founder Andrew Dickson White has given a detailed, chronological account of the rise and fall of the assignat paper money experiment in Revolutionary France. This experiment is not to be confused with the monetary mismanagement caused by John Law less than a century prior. It should...