Marx

Genesis and evolution of money

The genesis of the coin is usually associated with many fables and some people confuse the issue of new by taking the silver. The strike system is a relatively modern form of money that was probably developed by the Lydians in Asia Minor in the seventh century BC also not yet known whether these early works were actually used as currency as in modern times. Therefore, before making an attempt to determine the best use of primitive money is essential to identify what money really means.

Looking back in history, we find that regardless of any rational definition of money, its origin is almost as old as human civilization. Well, this article is not the appropriate place to further in detail in the history of money , can be largely divided into nine stages: Egypt, Mesopotamia and Greece, Asia, Far East and China, South-East and India, the land of Islam, the Roman world, Africa and Oceania, medieval Europe, modernity and the modern era. Besides this classification in the history of money, here are a brief chronicle of the evolution of currency from prehistoric times to the present in few simple steps.

Influences

Moreover, several factors like the rise and fall of the mighty Roman Empire, the emergence of an Islamic world, the regulation of new colonies in distant continents, the industrial revolution in Britain, the French Revolution, the Hundred Years War between England and France the American Revolutionary War, two world wars, the fall of communism and the disintegration of the former Soviet Union had all their individual influences in the evolution of money. Add to this view propagated by the capitalist economist Adam Smith and the counter of a socialist system championed by Karl Marx and Fredric Engels. Of Indeed, the industrial revolution that has made some money ubiquitous society that has been condemned by Marx and Engels.

Barter System

The barter system is known to be the most primitive transactions, such as people at first had no way of money to buy products or services. The barter system, which still exists in some communities around the world, said the exchange of property for the value of the goods or services desired. Livestock is the most common unit a. exchange of 9000-6000 C. from British Columbia and later agricultural products have also come under its jurisdiction. However, from 1200 BC, people in China and regions of Southeast Asia, including India, using snails as a means of exchange. The use of snails are widespread in Africa and has prevailed in many parts of the world until the mid 20th century.

Silver Metal

The first form of currency first appeared in China in the late Stone Age in 1000 BC to false shell production. Apart from these tools as shovels and metal knives used in ancient China can also be considered as the first forms of currency. The Chinese currency has been made of common metals and are usually drilled in the center so they can be hung on a string. In fact, these early pieces of metal of China serves as a model for modern coins.

Silver coins made their first appearance ever 500 BC in the form of silver and gold coins, and has gradually evolved to its current manifestation. They were the first pieces of money in precious metals and the impressions made of gods and emperors who issued to prove its worth as currency. It is believed that coins silver first appeared in Lydia, or Turkey and its techniques have been used repeatedly until they have been improved by the Persians, Greeks, Macedonians and Romans. On the contrary, the documents produced by the Chinese, these pieces were made of precious metals and semi-precious as gold, silver and bronze and made a strong intrinsic value.

The money from leather and fabric

The Chinese also were first to introduce a change of skin in 118 a. C., which for many is the precursor paper. They used skin deer into pieces a foot square of color who have been in the banks for transactions. On the other First, the Lele tribe in Belgium Congo in Africa pioneered the use of silver fabric for transactions within their community.

Paper money

According to documents, paper money was used in China from the ninth century and 15 AD Shortly after the introduction of paper money, the region has increased considerably, both in state and some individuals began to issue paper currency in large scale. Finally, the paper money has disappeared from China in 1455 and emerged centuries later to Europe. Most states reference the value of their money to gold and every time has been affected by this balance of over-printing money, not only led to a depreciation of money, but also strong inflation.

Gold Standard and depression

For years, the value of currencies has been associated with the value of the metal it was made. However, with the advent of paper money, this system was abolished in many countries and the currency has been designed for regular use in transactions, while precious metals such as Gold has maintained strategic reserve. Deviating from this system in 1816, England made of gold as a reference to the value of the currency. In In short, complained that the nominal value of a currency is pegged to the value of specific ounces. A few years later, the United States also adopted the gold standard in 1900. However, when the Great Depression has affected the economies of nations around the world in the 1930s the U.S. launched a global movement to try to bring the standard gold at its end. Moreover, while some countries still set their currencies to gold, even today, most governments and monetary organization, trying to be responsible for inflation.

Modern Money

The mid-20th century witnessed the globalization and liberalization of the economy to encourage free trade. The progress of science and technology in the modern era has created a system in which all the significant transactions can be concluded without the actual use physical currency. While the introduction of debit and credit cards have already introduced electronic money is also traded on the Internet, the role of banks in the granting of advances or credits to increase the company has redefined the nature and role of money in society.

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