The History of Money (Electronic book text)

Of all the changes that are rocking the world and promising to leave it a far less recognizable place, perhaps none is more fundamental than the revolutionary transformation of the meaning and use of money. As Jack Weatherford makes clear, we are already seeing the beginning of the third revolution of money. The first began with the invention of coins in Lydia nearly three thousand years ago and resulted in the original system of open and free markets. The second revolution occurred during the Italian Renaissance and eventually created the system of national banks and the paper money used for daily commerce. Now, on the cusp of the twenty-first century, we are undergoing another era in monetary history - that of electronic, or virtual, money. The new money will be responsible for radical changes in the international political economy and the organization of commercial enterprises. Weatherford weaves global stories and histories to give a comprehensive, engaging look at the history of the world in terms of our dealings with money and barter, wealth and power. From the markets of Timbuktu to the New York Stock Exchange, from the tribal man's hut to the modern corporate boardroom, The History of Money explores how money and the myriad forms of exchange have affected humanity. All aspects of our lives - economic, political, and personal - are influenced by money. And while we have progressed into an extremely sophisticated international exchange, some basic facts have remained the same: We still exchange money for services and goods; debt is not a new concept; and money does, indeed, make the world go round.