publication . Article . 2013

Creation Stories: Myths about the Origin of Money

Christine A. Desan;
Open Access English
  • Published: 01 Jan 2013
  • Country: United States
Abstract
A myth about the origins of money has long organized modern approaches to the medium. According to that creation story, money is the natural product of human exchange. It can be analogized to a commodity like silver that comes to hand out of the decentralized activity of trading or a convention like language that arises out of a consensus about the value of an item. But if we consider clues about money’s origins and extrapolate from its continuing practice, another story comes into focus. It suggests that money is a constitutional project, a mode of governance for a material world. Money is a means of mobilizing resources across a collective, one created when pe...
Subjects
free text keywords: Law and economics, Money measurement concept, Endogenous money, Velocity of money, Cash, media_common.quotation_subject, media_common, Payment, Economics, Money creation, Demand deposit, Financial transaction, Commerce
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publication . Article . 2013

Creation Stories: Myths about the Origin of Money

Christine A. Desan;