Economics 101 cover

History

Economics 101

A sweeping history of money from ancient bartering to the Bretton Woods system that rebuilt the world economy after WWII.

29 min read12 sections5,132 wordsFree online

Excerpt

CHAPTER ONE Before Value Had Numbers BEFORE COINS. BEFORE banks. Before anyone argued about GDP or inflation, there were just two people staring each other down trying to figure out what was fair. You have meat. I have fire. You’re hungry. I’m cold. We trade. Deal done. There were no spreadsheets. No ledgers. No decimal points or interest rates. Only trust, need, and the ever-wobbly scale of “is this worth it?” In the earliest days of human exchange, value didn’t exist in objects. It existed in relationships. You didn’t trade with strangers. You traded with your kin, your tribe, your hunting party. If someone shorted you, you remembered. If someone helped you, they rose in status. Value was...

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