The Evolution of Money

Money has now become a core survival issue for which we as humans have little preparation. Many civilizations that existed before us never used money or ever even heard of it. Humanity started out as gatherer/hunters. They foraged for food like all other creatures.

Then came a system of bartering where any commodity that was accepted by agreement of traders was exchanged. That is goods exchanged for goods. There was no way of measuring the value of the goods being traded. For example, a person who wants to trade meat would have to find someone who has the item he needs and is willing to accept his meat in exchange for that item. People had no choice but to rely on each other for very basic needs. This system still exists among peoples of primitive economies.

Money came about as a very long process starting with the use of precious and non precious metals to small coins before arriving at the paper money, credit money and plastic money we know today.

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2018-06-11T19:42:57+00:00