THE ORIGIN OF MONEY according to me.
Posted October 7th, 2008 by GREEDisBAD
output
It is my strong opinion that the origin of money is a promise that was made by grunting by a tribe leader to share food that they hunted together. Note that at this point, the food they caught was their entire economy, and money that individuals had (the promises that individual members received or thought they received) represented their share of the economy (food). If the leader promised more than they had, it was inflation. To prevent this, they eventually recorded these promises on cave walls and eventually coins were invented, in my opinion. So, in my opinion, money has always been top down and it is always issued by the most powerful member(s) of the society. This is still true today, in my opinion. As far as I can see, money is still issued by the most powerful members of the society and the sum of the money represents the entire economy and the money that you have or you think you have represents or should represent your share of the economy and if more money is issued than the actual size of the economy, it is inflation. Nothing has changed since the day one of human history, in my opinion.
So in my opinion, the origin of money is a grunt by a tribe leader.
Bookmark/Search this post with:
It is called "Reciprocity"
When people lived in family units and small villages as hunters and gathers they shared everything because they had to in order to survive. There was a division of labor and hence a division of resources. The origin of money came when trade between these small groups became far more commonplace and a direct exchange of goods was not always possible. With an item of equally agreed value like a dogs tooth or cowrie shell or gold or silver or paper could be exchanged for the item and later exchanged for something of value to the village or individual. Interestingly, surviving hunter gatherer tribes that use money only use it as an offering or as payment for husbands or wives.