09 November 2016

The Evolution of Money

David Orrell and Roman Chlupatý
Columbia University Press, 336 pages,
ISBN 9780231173728

Reviewer: Bridget Rosewell, Volterra Partners

Economists need to get their heads round the now inescapable conclusion that money did not emerge as a substitute for barter.  Rather it has always been associated with war, power and taxes.  These authors describe this with examples from across the globe, and others have made the same argument.  What we have been teaching students for the last several decades is plain wrong. Mediums of…

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