Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
The historical development of money
The historical development of money
The historical development of money
Don’t take our word for it - see why 10 million students trust us with their essay needs.
“The ascent of money has lead to the ascent of man.” The greatest question many have sought to answer is the creation vs. evolution debate. How did we get here? Were we created or did we evolve randomly? Are we the product of purposeful intelligence or are we the result of countless mistakes? Does it even matter? The story of money is similar to the story of humanity. Was money created or did it evolve. If it was created we can assume it will die. If money evolved then we can assume the future is unknown. In his book, The Ascent of Money a financial history of the world, Neil Ferguson historic analysis of money answers many of these questions. Ferguson believes money essentially mirrors mankind, magnifying back to us our progress, failures, values and weaknesses.” (The Ascent of Money, 358) The history of money shares many similarities to the history of man; Ferguson parallels between finance and Darwinism, illustrating the natural mechanism of our financial ecosystem that evolves, creates, competes, and dies. Money has evolved with the times and is a reflection of the progress of man. Early money was itself a physical commodity, grain, gold or silver. During the vital stage, more symbolic forms of money such as certificates of deposit, bank notes, checks, letters of credit, bonds and other forms of negotiable securities came into prominence. Social development transformed money in to a trust, “In God We Trust' it says on the back of the ten-dollar bill.” (The Ascent of Money, 27) Today money is faith in the person paying us and belief in the person issuing the money he uses or the institution that honors his money. This trust has no end it can be extended to a greater number of individuals. The establishment of money freed ... ... middle of paper ... ...and invention, As a result money like man is more powerful than when it was born, this power is only growing. I believe this growth will lead to many solutions for the problems we face today. The problems seem so impossible to solve, but history speaks for herself. She is indifferent, she is the same, man has to adapt man, has to conform. Works Cited Ferguson, Niall. The Ascent of Money: a Financial History of the World. 1st ed. New York: Penguin, 2008. Print. Ferguson, Niall. "The Gresham Special Lecture - The Ascent of Money: An Evolutionary Approach to Financial History | Gresham College." Free Public Lectures | Gresham College. Web. Mar. 2011. . Zakaria, Fareed. The Post-American World. 1st ed. New York: W.W. Norton &, 2008. Print.
Owen, Robert, and Gertrude Coogan. "Foreward." In Money creators. Hawthorne, Calif.: Omni Publications, 1967. 1-2.
Smith, A. (1904). An Inquiry into the Nature and Causes of the Wealth of Nations (5th Ed.). (e. Edwin Cannan, Ed.) London: Methuen & Co., Ltd.
Carnegie, Andrew. The Gospel of Wealth. 391st ed. Vol. 148. N.p.: North American Review, 1889. Print.
Friedman, Milton and Jacobson Schwartz, Anna. A Monetary History of the United States, 1867-1960. Princeton, 1963
Money, or things worth a lot of money. These are concepts we in the modern era understand well. However, the important factor to realize is that it is not just us at least as far back as the Middle Ages we see the growth of the idea of what money leads to and can abstractly stand for. Money / high value material goods and this idea of opulence through it for the medieval age was important as it is now as Celano showed us through his ‘biography’ of Saint Francis of
Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of Nations. 4th Edition. Edited by R.H. Campbell and A.S. Skinner. 1776. Reprint, Oxford: Clarendon Press, 1979.
Gaynor Ellis, Elisabeth, and Anthony Esler. ""New Economic Thinking"" World History: The Modern Era. Prentice Hall. 186. Print.
Hepburn, A. Barton. A History of Currency in the United States. New York: August M. Kelley Publishers, 1915.
Money is the main source of power in the world, but in ways it can be viewed as good or bad depending on the situation. It has a negative connotation when mentioned by the word “acts”. “ Acts” means to perform a fictional role. Which shows that most things involving money are fake. Though humans associate being fake with being morally wrong,but its somehow acceptable if there is a greater power involved. Another definition for acts is to take action;do something. In this case to take an action can be either good or bad. There are many ways to come across money, but nobody cares if it is good or bad because it deals with a greater power.
Few of us can deny the importance and power that money has in our society. It is difficult to think of issues that affect us on a daily basis, that does not involve money. But where does this fixation on money originate...
It is not surprising that in societies where exchange is widespread value takes on an independent form as money, as an expression of general exchangeability. Value is a central social reality for people; they constantly think and talk about it directly or indirectly; they want some way to transfer it directly among themselves, separate from particular commodities. This is, I think, what we mean by "money." It is the social expression of value separated from the concrete particularity of any use value.
...uggests that the spread of the money form gives individuals a freedom of sorts by permitting them to exercise the kind of individualized control over "impression management" that was not possible in traditional societies. ... ascribed identities have been discarded. Even strangers become familiar and knowable identities insofar as they are willing to use a common but impersonal means of exchange. (Ashley and Orenstein, p. 326)
The world revolves around money. Not only is money the base of our society, but people also depend on money to live a healthy and secure life. People have lost their homes, their families and th...
Polanyi, Karl. "Societies and Economic Systems," "The Self Regulating Market and Fictitious Commodities: Labour, Land, and Money." "The Great Transformation. Boston: Beacon Press, 1957. pp. 43-55, 68-75
As the quotation above says, is money society¡¦s new god? If so, can other values such as freedom, love, achievement or even motivation also be bought? This is precisely the topic of the paper. All of these things can be pointed back to money and see how people treat it today. Besides discussing the real functions of money, this paper will also attempt to answer not just the questions above but also investigate whether money is the only thing that really motivates people today.