Money
eBook - ePub

Money

The True Story of a Made-Up Thing

Jacob Goldstein

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eBook - ePub

Money

The True Story of a Made-Up Thing

Jacob Goldstein

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About This Book

Humans invented money from nothing, so why can't we live without it? And why does no one understand what it really is? In this lively tour through the centuries, Jacob Goldstein charts the story of this paradoxical commodity, exploring where money came from, why it matters and whether bitcoin will still exist in twenty years.Full of interesting stories and quirky facts - from the islanders who used huge stones as a means of exchange to the merits of universal basic income - this is an indispensable handbook for anyone curious about how money came to make the world go round.

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Information

Year
2020
ISBN
9781786495716

Index

illustration
absolute monarchy, national bank and, 73
accountants
ancient Greek, 8
Mesopotamian, 7
ADP, 163
Aldrich, Nelson (King Pin), 131–132
Alipay, 214
alternative cryptocurrencies, 209
Amazon, 188
Amsterdam
bills of exchange and public bank in, 55–56
Law on reasons for prosperity in, 57
stock market in, 48–49, 56
anarcho-capitalism
bitcoin and, 205
without the anarchy, 206–210
ancient Greece
coins and wage-based economy in, 8–11
polis in, 8–9
Andreessen, Marc, 89
Andresen, Gavin, 203, 209–210
annuities, 39–43
Appreciation and Interest (Fisher), 111–112
arc lights, 82
Aristotle, 4, 11
asset-backed commercial paper, 156, 157
Association for Computing Machinery, 188
Babylon, price of artificial light in ancient, 78, 79, 80, 81, 85, 86
Back, Adam, 195–196, 198, 200
Bagehot, Walter, 129, 160, 183, 226
bailouts
for European countries during financial crisis, 177, 182
for money-market funds, 165–166
for US banks after financial crisis of 2008, 218–219
Bair, Sheila, 167
banchieri, 30
bank deposit insurance, 136, 218, 220, 221
bankers, goldsmiths becoming, 25, 28–30
bank failures, Great Depression and, 138
bank holiday, 135
Roosevelt’s, 143–144, 145
banking
fractional-reserve, 29, 138, 219
100% reserve (full-reserve), 219–221
See also shadow banking
banking panic of 1933, 135–136
Bank of America, 166
Bank of Amsterdam, 58
Bank of England
on banking after financial crisis, 221
creation of, 60–61
creation of money, 61
investors in, 60
loan to king, 60–61
off the gold standard, 139
paper money...

Table of contents