Books: The History of Money by Jack Weatherford

in #money4 years ago

Short history of money from barter to modern fiat currencies and “plastic” money.

Interesting ideas:

  • Power of the ability to print money, which is currently dominated by state monopolies. I was writing about this in one of my blog posts: Thoughts on Decentralisation of Money 1.
  • Hyperinflation benefits debtors, provided that the debt is in the hyper-inflated currency.
  • Wizard of Oz was not only a children’s novel, but also a political satire about changes in monetary politics. Dorothy represents American people, scarecrow represent farmers, tin man factory workers and lion represents cowardly William Jennings Brya.

Personal score: 6/10