The Role of Money in History

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Glyn, Davies. "From primitive and ancient money to invention of coinage, 300-600 BC." History of money, 2016: 35-67.

This article is based on the transitions of a medium of trade from the essential barter trade to the use of money. In that aspect, the Glyn brings the critical aspect concerning money which indicated that the medium of trade was dependent on the value of the material used by the community involved. Additionally, the paper outlines that the medium of trade gained more value as their scarcity increased.

Hamann, Byron Ellsworth. "Counterfeit money, starring Patty Hearst." Colonial Latin American Review, 2016: 98-121.

In his article, Byron Ellsworth described an important attribute of the coin that played a critical role in distinguishing different classes in the society. For instance, the article accounts the transition of silver coins from Europe to China. In this transition, the Chinese community melted and molded their coins into two different dimensions. This was essential in distinguishing the medium to be used locally and the one to be used across the border or in the long-distance trade. This aspect indicated that the ownership of different current was essential in determining individual role in the capitalist market.

Shackel, Paul A. the archaeology of American labor and working-class life. Gainesville: University Press of Florida, 2009.

Paul Shackel has been a critical author in the view of power and class. In his book, he describes a society that is made of different classes and that no class can exist independently. In that respect, his ideas indicated then the existence of a class of laborers who depended on wages provided by the employers. The employer, on the other hand, relied on both coins to make investments and labor from the employees to facilitate his means of production.

August 21, 2023

History Economics

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